4 ms·
The price of an hour of babysitting on a random day in April is 1 unit. The price of an hour of babysitting on New Years eve is 5 units. On some nights the de
by dmm 14y ago
The price of an hour of babysitting on a random day in April is 1 unit.
The price of an hour of babysitting on New Years eve is 5 units.
On some nights the demand for babysitting is higher. On those nights the price is higher.
Does that make sense?
- rayiner 14y agoHow does that fix the problem of people hoarding coupons by not going out, decreasing the underlying economic activity that creates the need for the coupons in the first place?
- dmm 14y agoIf nobody goes out then the price of babysitting approaches zero: everyone want to babysit, no one wants to go out. Once the price is 0.0001 units, why not go out? The benefit of staying in is minimal.