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by bryanlarsen
103 days ago
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And I bet when you did eventually raise your prices, you raised them by more than you strictly needed to. Partly to help offset the losses you took for the 7 months you didn't raise prices, and partly to give yourself enough margin so that if your supplier's prices go up tomorrow (which they will) you don't have to raise your prices immediately. That's classic "prices are sticky behavior". Prices change less often, and by more, than they would in a classical economics model. |
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