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re: Biden to form ‘strike force’ to go after price-gouging
Posted on 3/5/24 at 10:34 am to Jbird
Posted on 3/5/24 at 10:34 am to Jbird
“Price gouging”…
Price gouging is charging $100/gal for gas after a hurricane, to where amounts are far in excess of what is reasonable even for a scarce quantity.
Charging $18 for a Big Mac meal is NOT gouging when the costs of labor and all inputs (meat, cheese, sauces, bread, etc) have all gone up significantly.
Price gouging is charging $100/gal for gas after a hurricane, to where amounts are far in excess of what is reasonable even for a scarce quantity.
Charging $18 for a Big Mac meal is NOT gouging when the costs of labor and all inputs (meat, cheese, sauces, bread, etc) have all gone up significantly.
1
Posted on 3/5/24 at 10:37 am to teke184
quote:
Price gouging”…
Price gouging is charging $100/gal for gas after a hurricane, to where amounts are far in excess of what is reasonable even for a scarce quantity.
Charging $18 for a Big Mac meal is NOT gouging when the costs of labor and all inputs (meat, cheese, sauces, bread, etc) have all gone up significantly
Yes, and no.
The price of an item is what a buyer is willing to pay in an arms length transaction and is dictated by supply and demand. If $100/gallon gas is in conformity with this, it may be immoral, but it is not gouging.
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