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Price gouging question

Discussion in 'Off Topic Threads' started by GrandpasArms, Nov 28, 2012.

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  1. GrandpasArms

    GrandpasArms Active Member

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    About 40 miles west of Chicago, IL
    Seriously, when does charging what the market will bear become price gouging?

    Larry Frieders |

    Grandpa's Arms, Inc. |

    340 Marshall Ave #100 | Aurora, IL 60506 |
    Monday through Friday, 9am to 5pm |
    Office: 630.859.0333 Cell: 630.992.7513 FAX: 630.859.0114
     
  2. John Galt

    John Galt TS Member

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    It never becomes gouging except to libtards and their quasi conservative enablers. When the price goes up the supply goes up, when they reach equillibrum the price goes back down and there is plenty of the product.
     
  3. gdbabin

    gdbabin TS Member

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    Gouging is an "artificial" increase aimed at exploitation rather than a free market reaction to true supply and demand.


    Guy B.
     
  4. Joe Potosky

    Joe Potosky Well-Known Member

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    Big storm moves through the area and the local store increases the prices of generators by 100% and a can of soup increased by $10. Gallon of water going for $10.

    For some that is OK, but....
     
  5. John Galt

    John Galt TS Member

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    How else do you expect a large supply of generators to get to where they're needed if the price doesn't go up? There's nothing artificial about it. Anytime something like this happens things like these sell out quickly. Relying on normal distribution channels would take a long time to build the supply back up. If the price goes up, more distribution will happen and it's most certainly related to the law of supply and demand. It's also good for the people affected by the shortage.

    Maybe some would like the price to stay the same in a shortage situation but that wouldn't help to fill the shortage. Of course, libtards would rather the government buy everybody a generator to recharge their Obamaphone with.
     
  6. HSLDS

    HSLDS Well-Known Member

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    Just be careful you don't run afoul of consumer protection laws...

    In most situations the price put on an item may not be raised - old stock must be priced as was - if there is a price increase new items can have a higher price, but old ones not.

    Look at gen-sets as an example - if there is a base supply (say five per Home Depot) they will be set at one price - if there is a predicted storm - and panic buying ensues then the NEW stock shipped in to meet the coming demand may have a higher price - the old stock not. (This satisfies J Galts idea that an increased price is warranted when the need to quickly move items into an area occurs)

    Check your state laws - this is how it is in PA (I'm not saying this is what happens, but that is how most of the laws are written.

    I THINK the discussion is more one of a ten percent increase versus a 200 percent increase, but what do I know?
     
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