To compete against other fast food chains in a monopolistically competitive market,, McDonald’s needs a speedy drive-thru.
Learn With Elaine: Panama Canal Expansion
Wide enough for huge container ships, the newly expanded Panama Canal will boost global trade and production.
Learn With Elaine: Misleading Metrics
Like factory quotas, snake bounties, or college ranking, sometimes incentives can create unintended consequences.
Learn With Elaine: Uber’s Driver Shortages
Related to universal supply side incentives, Uber’s driver shortages display the power of the higher prices that motivate producers.
Learn With Elaine: Inventing Post-it Notes
An accidental innovation, Post-it Notes had a massive economic impact through the private and social returns that they created.
Learn With Elaine: Impulse Buying
Staying at home during the pandemic, we have shifted our impulse buying from the supermarket to our online shopping cart.
Learn With Elaine: Banana Problems
Echoing what happened during the 1950s, banana problems with a spreading fungus mean we will again need a new kind of banana.
Learn With Elaine: Logo Changes
Logo changes from corporations and government agencies convey a message about branding and product differentiation.
Learn With Elaine: What We Don’t Know We Own
Based on the six hidden rules of ownership, from Netflix passwords to airplane seats, what we don’t know we own shapes our behavior.
Learn With Elaine: How Covid Changed College Applications
By suspending the SAT and ACT, Ivy League colleges diminished transaction costs and made it easier to apply.
