Our story starts when a journalist named Rachel gets a call from her mom. The mother is distressed because her supermarket has stopped selling De Cecco bucatini. Even on Amazon, there is none: But it gets worse from here. A…
Gasoline prices rise faster than they fall because monopolistic competition provides retailers with some price control although their product is identical.
Our everyday economics includes externalities, branding, monopolistic competition, sovereign debt, game theory, elasticity, taxes, markets and the glass ceiling.
With the creation of the Honeycrisp, perfect competition became monopolistic competition in the apple industry and quality and quantity incentives changed.
Yesterday morning, during my “rantum scoot” around a Nantucket cranberry bog, our group leader unknowingly presented a supply and demand story. This is the bog: Starting with some history, he said the island of Nantucket was ideally suited to growing cranberries because it…
econlife®
Connecting economics with everyday life.
Located at the intersection of current events, history, and economics, econlife® slices away all of the layers that make economics boring and complex. We like economics and we would like for you to like it too.
