Indeed it should be way lower when you realize there's no need for people to be paid to bring forests down, to transport and process the dead trees into paper, to buy lots of ink and glue, to pay for lots of hardcover, to pay for hundreds of printing machines requiring managers, technicians and maintenance, no transportation, no salesmen at the door of each store etc.
It's just an author, his editor and a publisher spending just in marketing and server storage and bandwidth.
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