2 ms·
I think he means that fixed-level price floors are largely meaningless in circumstances where the marginal utility of a dollar can vary widely from one neighbor
by roel_v 16y ago
I think he means that fixed-level price floors are largely meaningless in circumstances where the marginal utility of a dollar can vary widely from one neighborhood to the next (neighborhoods that often vary along socio-economic lines, which correlates strongly with ethnicity).