Econ 202: When Supply Met Demand

We’ve graduated from Econ 101.  It’s time to take on Price Takers — companies that can influence Price to optimize their profits.   That’s going to take a few posts, starting with a rehash of  Econ 101 posts today.  Apologies to those who don’t like going into the weeds, but you really can’t talk about…

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To Regulate or Not To Regulate, That is the Question

The last post on Government regulation introduced gluts and shortages, both undesirable, inefficient and unsustainable–theoretically– in a free market. “Theoretically” because the free market of classical economics is modeled on a world of “complete information, interchangeable goods and services, and lack of market power” — a world that exists only in theory.  Laissez-faire{{1}}[[1]]tr:  Leave [us] alone.[[1]]  gets…

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Government Regulation of Hearing Healthcare, part 2

Several posts ago, Hearing Economics looked at the Supply Curve in a free market and likened independent Audiologists to wheat farmers, in the sense that they exercise little if any influence on Pricing.  That post evoked comment from a regular reader: C:  Holly, you using the analogy of how hearing aid professionals are like wheat…

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