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It's no different than CD's, guys... sure, SOME of the cost of the product is the materials that were used to produce it, but most of it is creation, editing, marketing, and all kinds of other stuff that eBooks require just like the real thing.
Do you think it costs Microsoft $300 to produce a Windows CD? Of course not. You're paying for the development. It's an extreme example, but it's the same point.
If it makes you any happier, I'll say they should cost a few bucks less to make up for the materials... but, still, I don't think they should cost next to nothing just because there's no printing being done :p
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