@[email protected] to politics @lemmy.worldEnglish • 6 days agoBeef prices are the new egg prices. They’re soaring | CNN Businesswww.cnn.comexternal-linkmessage-square77fedilinkarrow-up1232
arrow-up1232external-linkBeef prices are the new egg prices. They’re soaring | CNN Businesswww.cnn.com@[email protected] to politics @lemmy.worldEnglish • 6 days agomessage-square77fedilink
minus-square@[email protected]linkfedilinkEnglish1•3 days agoI dont want to sound condescending but this is pretty simple economics. If you tax imports then vendors of local products will increase prices to match the imported goods. The market for local beef is an oligopoly with only a few buyers, so it’s easy for them to manipulate the price.
minus-square@[email protected]linkfedilink1•2 days ago The market for local beef is an oligopoly with only a few buyers, so it’s easy for them to manipulate the price That’s an oligopsony, not an oligopoly which would have only a few sellers.
I dont want to sound condescending but this is pretty simple economics.
If you tax imports then vendors of local products will increase prices to match the imported goods.
The market for local beef is an oligopoly with only a few buyers, so it’s easy for them to manipulate the price.
That’s an oligopsony, not an oligopoly which would have only a few sellers.