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| Re: The Eighth Blunder of the Modern World keeps getting bigger? (1985966) | |||
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Re: The Eighth Blunder of the Modern World keeps getting bigger? |
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Posted by AlM on Sun Jun 16 14:20:32 2024, in response to Re: The Eighth Blunder of the Modern World keeps getting bigger?, posted by Spider-Pig on Sun Jun 16 10:42:10 2024. But in this case (goods and services delivered south of 60th street), the market can bear a price increase. If a simple plumber's visit costs $200, and all plumbers' expenses go up by $12 (say they pay a $24 congestion fee but the plumber can split the fee between two service locations on average), all plumbers will raise their fees by $12.This will cause an imperceptible reduction in demand. Competition will still keep a greedy plumber from charging $500 instead of $200. But it won't keep them from charging $212. |
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