Describe a recent price change that you have observed in some good or service that you purchase. Then, I want you to give one possible (reasonable) explanation for that price change and discuss why you think this is the likely cause of the price change. In addition to posting your own price change example, I want you to reply to at least one post from one of your classmates and give an alternative explanation for the price change example they give.
- Do not use goods like oil or gasoline that show up in the textbook, etc. Choose something not so obvious if possible.
- Make sure your explanation for the price change (and your alternative explanation for someone else's price change) refers to the list of supply or demand shifters.