Disney is considering dynamic pricing to spread attendance and diminish lines. Restaurants, airlines, hotels and others with pricing power also vary price.
Our everyday economics includes externalities, supply and demand, price maker, monopolistic competition, oligopoly, statistics, money supply & innovation.
Displaying some pricing power, dynamic pricing on Amazon, for airlines, Uber and elsewhere recognizes and responds to changes in demand to maximize profits.
Who would have expected the Sherman Antitrust Act to relate to college applications? In 1890, the Sherman Antitrust Act was passed because large firms were acting “in restraint of trade.” Supporting Adam Smith, the goal was to control business size so that the market…