From Greg Mankiw's Blog, I couldn't agree more. Competition will benefited to consumers. It also encourage the business to be efficient, to some extent.
When I talked about competition, some people will speak behind me very softly, "Well, you are really do not care with other people business. Competition will kill those people's business".
Anyway, I will speak softly as well and said "I will not be a hypocrite by saying that I do not like cheap price. And I will definitely support any business that could offer me more. The rest is only about my budget and willingness."
2 comments:
There are some studies that analyzed 'The price of nationalism" that link customers willingness to pay higher price to consume the product from his/her own country.
So I'd say the price is complement with the process/label (with differing mix of weight for each person)
pertamax..
salam kenal
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