3 ms·

I's really interesting that people are willing to pay outrageous sums in one area (e.g. rent) but then are not willing to pay more in other areas (food). I am n

I's really interesting that people are willing to pay outrageous sums in one area (e.g. rent) but then are not willing to pay more in other areas (food). I am not sure how these imbalances happen.

epistasis 8y ago
With rent, there are no other options. With food, one can always cook at home when the extra cost no longer seems worth it.
conanbatt 8y ago
Rent has less elasticity than food.