Friday, April 3, 2009

Some Economist Questions

Thomas -- this blog's Captain -- honors me, his dad, with his request that I be a co-blogger with him. I'm psyched!

Thomas's dad is an economist, a fact that sounds less interesting than a practical joke played by a Vulcan. But, in fact, economics is loads of fun.

Here are a few things that we economists think we can explain. Can you?

1) Why are prices in convenience stores (such as 7-11) usually higher than are prices in supermarkets?

2) Why can you always find plenty of bagels at the bagel store even though you never call ahead to alert the bagel store and its bagel bakers that you plan to come in to buy one or two dozen bagels?

3) Why did gasoline in the 1970s become more expensive despite government's command that gasoline sellers keep their prices low?

4) Why are most books published first only in hardcover editions, and only later in paperback editions?