The everyday blog of Richard Bartle.
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9:33am on Wednesday, 23rd September, 2020:
Comment
I don't get how lockdown economics works.
If a sports stadium is only allowed to hold one eighth of its capacity, why haven't ticket prices gone up?
If a restaurant can only use a quarter of its tables, why haven't meal prices gone up?
If a cinema is only allowed to fill one seat in ten, why haven't seat prices gone up?
If a bar can only hold half its usual number of patrons, why haven't drinks prices gone up?
If supply is low, prices rise. Is it that at such higher prices, demand would fall even faster? Or is it that organisations with deeper pockets keep their prices low in order to bankrupt their competition?
I'm sure there must be some logic to it.
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