12. The subscription rates charged for technical journals is often much higher, 5 to 10 times higher or more, for library subscriptions than for individual subscriptions. (By technical journals we mean publications such as the New England Journal of Medicine or the Journal of Public Economics). The best explanation for the ability of publishers to charge these higher rates to libraries is that:

libraries have more inelastic demands for technical journals than individuals so the publishers are able to engage in price discrimination.
individuals need the journals more so the publishers gives them a break.
libraries have more elastic demands for technical journals than individuals so the publishers are able to engage in price discrimination.
individuals have more inelastic demands for technical journals so the publishers are able to engage in price discrimination.
since libraries have unlimited budgets publishers simply take advantage of them.