Economics In Slow Motion : Price Setting (part 2)

This is the second in a series I think I could make a dozen or so of.   But I want to get into making the Podcast, so I am going to suspend these until time lets my mind wonder wherever it wants.  

In this version I use a more identifiable model for the thought experiment.  The setting is a "store" instead of an auction.  The product isn't a general widget, but rather a gallon of milk.  Hopefully this will allow the ideas to resonate easier.  If you take nothing else from this video, take the proof of the advice "always go straight to the bargain bin/ closeout rack/ discontinued stock racks first.  Because there is where you find the "win-win" for both consumer and seller. 





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