3 ms·
Economics 101 would tell you that price elasticity is the obvious difference between the two, and that makes a huge difference. If a game is too expensive, you
by munchbunny 7y ago
Economics 101 would tell you that price elasticity is the obvious difference between the two, and that makes a huge difference.
If a game is too expensive, you move to another game or other cheap entertainment. If a drug is expensive, you pray that there's a cheap generic, which in some cases there isn't.
The idea that prices should be globally stable works in the imaginary world where currency conversions hold real income constant, but that's just not true.