3 ms·
> Arguably, 3M should have put the price up as soon as demand shot up, so that stock would not run out. No. Raising prices is the econ 101 solution, but we do
by Seenso 7y ago
> Arguably, 3M should have put the price up as soon as demand shot up, so that stock would not run out.
No. Raising prices is the econ 101 solution, but we don't live in an econ 101 world. There are other ways to deal with shortages, and 3M chose one of those other ways:
https://news.3m.com/blog/3m-stories/3m-responds-2019-novel-coronavirus https://news.3m.com/blog/3m-stories/3m-responds-2019-novel-c...:
> We notified 3M authorized distributors that we are prioritizing orders to help serve our base business – including hospitals – due to high global demand.
Some retailers are also implementing non-price-based solutions to the shortages:
https://www.ajc.com/news/home-depot-limits-coronavirus-mask-sales-per-person/mnD4dHzpSFPId34Qcg03zL/ https://www.ajc.com/news/home-depot-limits-coronavirus-mask-...:
> As fears continue rising about the deadly coronavirus outbreak, Atlanta-based The Home Depot is limiting the number of protective respirators to 10 per purchase.