Our everyday economics includes property rights, sovereign debt, default,, externalities, regulation, Pigovian taxes, incentive, state taxes, and oligopoly.
With the competitive market structure of the movie business changing from less to more competition, movie content from major studios is less innovative.
Because the college textbook market is a monopoly for each book in which the instructor selects the books and students buy it, prices have skyrocketed.
This week’s everyday economics involved 6 economists and such ideas as product differentiation, behavioral economics, marginal utility, price and trade.
As monopolies, electric utilities have the pricing power that lets them offer dynamic pricing through smart meters but supply and demand will change slowly.
At your local gas station, you might be seeing some sticky prices. Although barrels of West Texas Intermediate (WTI) and Brent Crude have steadily gotten cheaper, the price at the pump has had a less steep downward trajectory. One economic study…
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.
