Supply and demand have upped lemon prices. For supply, there was a drought and freeze in California; while popularity and pricier limes have led to increased demand.
For 350 years, the Russian government has optimized the money it gets from vodka sales by creating a monopoly that takes advantage of inelastic demand.
When supply and demand in tennis match prediction markets created illogical prices, researchers said that 3 matches at Wimbledon might have been fixed.
Like all minimum wages, the tipping minimum wage theoretically is an economic floor that stops wages from falling to equilibrium and creates job shortages.
In refrigerators in developing nations, we can see the impact of affluence on their diet and on supply and demand that will change worldwide food prices.
Through the price system, because many consumers and businesses make buying and selling decisions for the same good or service, price conveys information.
Mandated by Ronald Reagan and approved by subsequent presidents, cost-benefit analysis of federal regulation could be inaccurate for new tobacco regulation.
Because market structure shapes a firm’s behavior, a supermarket’s product placement relates to the monopolistic competition that characterizes its market.
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