The price “we” pay

For a limited resource with high demand, such as gasoline, the price elasticity of  demand is very high, and consequently can adversely affect the economy. Yes, we all know that, but by how much does it really affect?

This article turns a concept into numbers with a stunning conclusion.

This entry was posted on Saturday, December 1st, 2007 at 7:05 pm and is filed under 17292. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “The price “we” pay”

  1. Economics Topics News » Blog Archive » The price “we” pay Says:
    December 2, 2007 at 4:11 pm | Reply

    [...] The price “we” payBy pharaohFor a limited resource with high demand, such as gasoline, the price elasticity of demand is very high, and consequently can adversely affect the economy. Yes, we all know that, but by how much does it really affect? ….pharaoh. – http://pharaoh.wordpress.com [...]

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