this post was submitted on 10 Aug 2023
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Lemmy Shitpost

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Welcome to Lemmy Shitpost. Here you can shitpost to your hearts content.

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[โ€“] krakenx@lemmy.world 1 points 1 year ago (1 children)

Company A raises prices and reports record quarterly profits. Company B is aware of this because both the price raising and quarterly profit report for Company A are public. Company B raises prices too so that they can get also get more profit. Company C either does the same thing, or there is no company C because rubber stamped mergers and acquisitions for decades have allowed a handful of companies to dominate every industry, sometimes multiple industries.

None of this is a conspiracy. It's Econ 101 level "how things work."

[โ€“] dx1@lemmy.world 1 points 1 year ago

Econ 101 covers supply/demand curve, i.e., how markets create prices as an equilbrium between consumer/producer, and how a company arbitrarily spiking prices will cause them to lose market share because their customers don't want to pay more for the same thing.