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July 1, 2022 

AmosWEB means Economics with a Touch of Whimsy!

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REGULATORY PRICING: Government control over the price charge in a market, especially by a firm with market control. Price regulation is most commonly used for public utilities characterized as natural monopolies. If allowed to maximize profit without restraint, the price charged would exceed marginal cost and production would be inefficient. However, because such firms, as public utilities, produce output that is deemed essential or critical for the public, government steps in to regulate or control the price. The two most common methods of price regulation are marginal-cost pricing and average-cost pricing.

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PINK FADFLY
Your compete MICRO*scope for today

You are the type of person who has more shoes than grains of sand on the beach, and never wears the same pair twice. Family and friends able to set their calendars and clocks by the fashions that you wear. Today, you are likely to spend a great deal of time calling an endless list of 800 numbers looking to buy either a battery-powered, rechargeable vacuum cleaner or a remote controlled World War I bi-plane. Be on the lookout for mail order catalogs with hidden messages. You should consider shopping at stores or businesses beginning with the letter L, but do not buy any products with a serial number or product code containing the number 564919. Your preferred shopping venue is high-end specialty stores. Your special symbol is the forward slash (/).


Is this You?

As a Pink Fadfly, you flutter from store to store, from product to product, looking for the latest fashions. You are the trend-setter and at the forefront of all fads. If it's new, if it's trendy, if it's on the cutting edge, you are there. Price is not important. Quality is not a prime consideration. For you it's not a matter of form over function or style over substance. The latest trend trumps all.


This isn't me! What am I?
INTERCEPT, GOVERNMENT PURCHASES LINE

The intercept of the government purchases line indicates autonomous government purchases, government purchases that do not depend on the level of income or production. This can be thought of as government purchases that the government sector undertakes regardless of the state of the economy. Autonomous government purchases are affected by the government purchases determinants, which cause a change in the intercept and a shift of the government purchases line.

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Fact 2: Our Subjective Values

Upon leaving Scarcity Stan's Bakery Shoppe and Confectionery Palace our pedestrian's excursion drops into Mega-Mart Discount Warehouse Super Center. A quick tour of this mecca of mass production -- lasting no more than three days -- is likely to reveal within the 20 gadzillion square feet of floor space a number of sales racks, shelves, and tables filled with merchandise marked down for clearance. A prominently displayed sign on one sales rack boldly declares that the regular $24.99 price has been drastically reduced, for this week only, to $3.98. What a bargain! What a sale! We have the chance -- "for a limited time only" -- to get stuff valued at $24.99 for only $3.98! With a bargain like this, how can we lose?

It's easy to lose, if you don't understand the concept of value. Most of us have several "bargains" stored away in the attic, closet, or garage that never have seen, and probably never will see, anything resembling use. What seemed like a great "bargain" at the store, does nothing but occupy space at home. (By the way, does anyone have use for a distributor cap for a 1949 Ford?)
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APLS

Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
"Experience keeps a dear school, but fools will learn in no other. "

-- Benjamin Franklin

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