kebab@endlesstalk.org to politics @lemmy.worldEnglish · 1 year agoBeef prices are the new egg prices. They’re soaring | CNN Businesswww.cnn.comexternal-linkmessage-square73linkfedilinkarrow-up1234arrow-down14
arrow-up1230arrow-down1external-linkBeef prices are the new egg prices. They’re soaring | CNN Businesswww.cnn.comkebab@endlesstalk.org to politics @lemmy.worldEnglish · 1 year agomessage-square73linkfedilink
minus-squarenull_dot@lemmy.dbzer0.comlinkfedilinkEnglisharrow-up1·1 year 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-squarecyberwolfie@lemmy.mllinkfedilinkarrow-up1·1 year 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.