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Monday, May 21, 2007

The Price is Right

Everything I know about economics, I learned from Bob Barker. In what is probably the simplest of games, Bob will show two or three items and ask the contestant which is the Most Expensive. It's good clean fun for the whole family and teaches a little about supply and demand. So let's play.

One gallon of skim milk, one gallon of Starbuck's coffee, one gallon of regular unleaded gasoline.

Which is more expensive?

Not so subtle moral to the story: Stop complaining about paying at the pump. Prices are supposed to represent the relative cost of production.

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