On Friday 31 December 2010 08:55 AM, Binand Sethumadhavan wrote: > 2010/12/30 Rony<[email protected]>: >> taxiwala overcharges a few rupees during a taxi shortage, he is >> considered a criminal who should be severely punished. If airline >> companies form a cartel, create artificial shortage and extremely >> overcharge their customers, they are respectable blue collared >> businessmen who simply call it the laws of 'supply and demand'. > First of all, I think you mean "white collared businessmen". :-)
Yes. Thanks for pointing it out. > > Third, the laws of supply and demand as taught in introductory > economics courses assume "many suppliers and consumers" that one or a > group of them cannot control the price - which obviously doesn't hold > true in the case of a cartel. The airline bosses are taking the > travelling public for a ride (pun intended) when they use these laws > to justify their actions. > One of the head honchos had actually used the term 'supply and demand' in his statement to justify the high ticket prices. > The concept of profit goes through three distinct phases: > You have painstakingly explained it. Thanks. :-) -- As a proper list etiquette... Please trim your replies. Post your replies below the relevant original text, leaving a line space. Do not re-use old messages to write new ones. Regards, Rony. -- http://mm.glug-bom.org/mailman/listinfo/linuxers
