Posts Tagged ‘supply’

  • Marijuana legalization is about demand, supply, market structure and cost benefit analysis.

    A Demand and Supply Lesson

    May 17, 10 • 546 Views • No Comments

    A recent NPR report on the changing status of marijuana in California is also a supply and demand story. The story begins in 1983 when the Reagan administration sought to decimate pot production in California. As a result, supply would have decreased because......  [read more]

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    A Water Dilemma

    May 8, 10 • 515 Views • No Comments

    Last week, the Boston area had undrinkable water for several days. Predictably, bottled water sales soared as did bottled water prices in certain stores.  Equally predictably, politicians condemned the increases. Most economists, though, disagreed.......  [read more]

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    Hot Wing Markets

    Mar 29, 10 • 476 Views • No Comments

    Opening on April 1 in NYC, the Exchange Bar & Grill has food and drink prices that respond instantaneously to demand.  As described in a Reuters article, if everyone wants hot wings, then, in $.25 increments, the price increases; if no one wants......  [read more]

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    Random Recession Notes

    Mar 23, 10 • 440 Views • No Comments

    The impact of a recession might not be entirely what we expect. A recent study from the University of Ottawa suggests that we sleep more during a recession. Canadians slept two hours and 34 minutes more per week. Hypothesizing that it makes people happier, a......  [read more]

  • A Bag Tax

    Jan 27, 10 • 553 Views • No Comments

    Washington, D.C. got a bag tax on January 1. Now, any store that sells food (even a book store that sells mints) has to charge its customers $.05 for every bag they use (not just for the food but everything!). The results… 1. One Safeway reported using......  [read more]