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    21. Since it is possible that smaller subscription bases may account for the commercial titles' higher prices, all else equal, a smaller subscription base raises average costs. I also calculated the average number of subscriptions for both types of publishers by decade. For some of these decade groupings, i.e. 1928-1937 and 1938-1947, the commercial titles actually exhibited larger subscription bases. In the other instances, commercial subscription bases were smaller than those for non-profit titles, but not enough, it would seem, to account for the observed price discrepancies. Except for the pre-1918 titles, commercial subscription bases were only 20 to 40% smaller than for the corresponding non-profit titles. In each of these cases, calculated revenues for commercial titles exceeded those of the non-profit titles. The average revenue level for commercial titles exceeded the corresponding non-profit values by 145%.


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