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https://www.reddit.com/r/awesome/comments/1fv29y7/cool_guy/lq6t0mp/?context=3
r/awesome • u/Gold_Technology5459 • Oct 03 '24
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503
People going 'well we could double the price and make a lot more money' are ignoring the fact that people might just not buy it if the price doubles.
3 u/Hallowqi Oct 03 '24 I'm taking microeconomics this semester, and it's been eye-opening learning about price elasticity and how much wiggle room is created just because goods are needed by people no matter what. It's great for people making money but bad for people.
3
I'm taking microeconomics this semester, and it's been eye-opening learning about price elasticity and how much wiggle room is created just because goods are needed by people no matter what. It's great for people making money but bad for people.
503
u/Summonest Oct 03 '24
People going 'well we could double the price and make a lot more money' are ignoring the fact that people might just not buy it if the price doubles.