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> Yes companies are bragging about being able to raise prices, but it's not "because they can", it's because there's a supply/demand mismatch. Yes it is "becau
by lamontcg 3y ago
> Yes companies are bragging about being able to raise prices, but it's not "because they can", it's because there's a supply/demand mismatch.
Yes it is "because they can" but they can because there's a supply/demand mismatch and demand is inelastic to price increases.
- s1artibartfast 3y agoAnd demand is inelastic because customers have enough money to pay for more expensive Goods before switching to cheaper substitutes. People aren't buying beans instead of steak because they really want the steak and can still afford it. The price of steak will only go down if people are no longer willing to buy it.