Economics students, look at this very carefully:
How much do you pay for juice at your local market?
How much per ounce?
Kennie (at Tales from the Arctic) features a bunch of unbelievable prices. Getting goods to towns in the far north of North America, in Canada and Alaska, is a major production. Transportation and handling kick prices up a bit.
We’ll find out how alert Sarah Palin is when somebody asks her the price of a gallon of milk . . .
More seriously, economics teachers might find some object lessons in these photos, and a good presentation on supply and demand, and the costs of distribution.
Milk at $8.50 a gallon? Even in Canadian currency, that burns.
I wonder: Do prices like these make economics any easier to teach to high school kids? Does the urgency of high prices make the subject more relevant?
Why are the prices so high up there, do you think? Why would people pay such prices? Why doesn’t someone come in to this business to compete with lower prices?