5min chapter

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"Price gouging" in emergencies

Rationally Speaking Podcast

CHAPTER

The Supply and Demand Diagram of a Portable Generator

In the aftermath of Katrina, many people were unable to get generators. The market must clear at a higher price because new buyers are bidding with each other for them. But it's not like your guarantee to not get one; you could be someone who is willing to spend ten hours looking around before you get lucky. So they can alicate through time, through force of stealing through political connections,. And economists would say non-priceplications of goods are always less efficient.

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