
A Primer on Demand Elasticity
“How does quantity demanded change in response to a price change?” We use price elasticity of demand. This is a primer on demand elasticity. Continue Reading →
“How does quantity demanded change in response to a price change?” We use price elasticity of demand. This is a primer on demand elasticity. Continue Reading →
My guess: the global price elasticity for wine is -0.7. If 2021 output falls by 4.6%, the global price should rise by 6.5%. No wine shortage. Continue Reading →
I’ve been looking into detailed election results, specifically our local school district. There are 31 precincts. To save some time I thought I’d get the GIS maps. Imagine my surprise when I found out they would cost $86 per precinct! I wondered if this came close to the monopoly profit-maximizing price. Have I found monopoly pricing in a government agency? Continue Reading →