Episode 278: Consumers' Hidden Profit
Words & Numbers
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Computers Never Get Any Cheaper, Right?
The price of computers has fluctuated a bit, but they're always around $1,000 or $1,500. Any reasonable person is going to look at that and say, okay, well, the seller walked away with a profit,. The machine today is way better than the machine back in 1980. But none of that addresses the topic I want to talk about. And that is what economists call consumer surplus.
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