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An encyclopaedia is an information good, and its production involves collecting information and packaging it for use by consumers |
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Now you can get a CD version of the encyclopaedia, along with a dictionary, thesaurus and world atlas, for as little as $80 |
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The cost of compiling the information for the first copy of an encyclopaedia is huge |
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The move from book-form encyclopaedias to digital ones decreased the cost of production |
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The cost of reproducing the encyclopaedia in digital format is small |