Archive for June 6th, 2007

Price gouging or simple economics

Wednesday, June 6th, 2007

“The price of gasoline is ridiculous!” is a phrase that I hear all of the time. I am starting to get tired of people complaining about how expensive gas is, and how the Oil Companies are evil because they are making record profits. Sorry to inform you, but when people demand something, with a low demand prices go high. Everyone says that this is wrong in the case of gasoline, but how? (more…)

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