Posts Tagged ‘prices’

  • Gasoline prices add 9/10 at the margin

    Higher Gas Prices

    Jun 5, 11 • 727 Views • No Comments

    How have we responded to higher gas prices? According to a recent study, our first response is to buy a lower grade of gasoline. Drivers, used to premium, opted for regular gasoline instead. However, because we have different “budget baskets,” we......  [read more]

  • Prices convey information.

    Giving Life a Price

    Feb 19, 11 • 661 Views • No Comments

    The people at OSHA (Occupational Safety and Health Administration) have been watching “Spider-Man.” Because of actors’ injuries during performances, the federal agency that monitors workplace safety went to Broadway. Should they? It is all......  [read more]

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    Shrinking Packages

    Feb 17, 11 • 799 Views • 2 Comments

    Have you noticed that the 64-ounce Tropicana Orange Juice container now holds 59 ounces of juice? Or, that Scott Toilet Tissue is 104.8 sq. ft. instead of 115.2 sq. ft.? Other shrinking packages include… The 24-slice package of Kraft American Cheese has......  [read more]

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    Venezuela’s Prices

    Nov 10, 10 • 644 Views • No Comments

    You might find it interesting to ponder the implications of the sign in a Venezuelan shopping mall which I saw on Harvard’s N. Gregory Mankiw’s blog. Called Mercado Bicentenario, the store was a part of a chain that had recently been nationalized......  [read more]

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    The Price System: Pelicans, Professors, and Murders

    Oct 26, 10 • 649 Views • No Comments

    Is a pelican worth $500? What is the value of a college professor? What does a murder cost us? Sometimes it’s tough to get a price. We know that BP owes money for wildlife lost on devastated wetlands. But how much? USA Today tells us that 2263......  [read more]