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Don't hospitals + drug companies price things based on need? The relative demand for healthcare related goods are price inelastic (buyers traditionally are wil
by treyfitty 7y ago
Don't hospitals + drug companies price things based on need? The relative demand for healthcare related goods are price inelastic (buyers traditionally are willing to pay more because they have no choice). For example, something as simple as one capsule of Tylenol can cost more than $5 at the hospital, while you're captive to the bed. Why doesn't anyone mention this aspect of "price gouging?"
It's the same underlying phenomenon of supply and demand, except this time regular people are using it to their advantage rather than hospitals.