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This article outlines the rising gasoline price in US in 2008 and speculation about how and whether Americans will change their behavior in the long run. The article compares the change in gas price in US to many other countries, and give the PED value of gasoline. So check it out!

This article outlines the rising gasoline price in US in 2008 and speculation about how and whether Americans will change their behavior in the long run. The article compares the change in gas price in US to many other countries, and give the PED value of gasoline. So check it out! (week 9)

This article talks about how the PED of tobacco is not as inelastic as once previously thought. The price of tobacco is increasing due to the government adding taxes, and because of the large increases in prices, the demand for tobacco is decreasing.

Due to the rise in cost for Netflix of obtaining contracts for movies, Netflix has compensated by increasing the price of its DVD mail-service. However, Netflix's mail-order subscription service is neither a necessity nor without heavy competition, hence it has a low PED. This has caused Netflix to see a drop in monthly subscribers to the service, as people switch to less expensive options or competitors.

This article describes the findings of Lanre Kassim of the University of Kent, who has found out that the trade liberalisation of economies in sub-Saharan African countries has not been able to affect the YED of imports and exports, meaning that trade liberalisation has not significantly changed the rate of change of income in these countries. However, Kassim states that PED of exports and imports has increased, and thus a significant change in demand can be recognised, however little the change in total income may remain.

This article compares the incomes of different households in the US showing the increase percentage in wealthier incomes and the decreased percentage of more poor incomes based on the wealthier income increase. This shows money, which is scare, being unequally distributed throughout a nation.

The mayor of Chicago, USA, Rahm Emanuel, wants to place a specific tax on cigarette packs, 75c per unit more than before. Though he sais he is doing it in the city's best interest: to have more city funds available for low-income children with vision problems, and other projects that require funding.

Economic growth: Men work at a construction site on Jl. Pramuka in East Jakarta on Wednesday. The Central Statistics Agency (BPS) announced the domestic economy grew 5.62 percent in the third quarter of 2013, the slowest since 2009.

Due to extreme weather changes, droughts and floods are causing bad harvest all around the world. This causes corn and wheat supply to decrease and food prices to increase. Food however has a very inelastic demand. Food is a necessity and therefore people are willing to purchase it at higher prices. 

This article talks about how teams price their tickets in the inelastic portion of their demand functions. To ensure maximum attendance and revenue, they lower the ticket price in order for more people to buy.

An article about the elasticity on the Super Bowl Ticket prices. Increases from $1,250USD -> $2,600USD and $950USD -> $1,500USD. It shows that teams want to charge more per seat instead of filling up all the seats; they prefer a high elasticity

NFL Commissioner Roger Goodell, Giants' co-owners Steve Tisch and John Mara, Jets owner Woody Johnson, David Tyree, former Jets player Emerson Boozer, former Jets player Curtis Maritn, CEO of the NY/NJ Superbowl Host Committee Al Kelly attend the 'Join The Huddle' Road To Super Bowl XLVIII Kick Off Mobile Tour [...]

This deals with how prices are set in marketplace. When it was said that iPhone 5C will be a low-cost phone people were interested and now that it isn't they are makind orders smaller. The bright side is that other iPhones are ordered more.

This article describes the launch plans and the Xbox marketing chief's opinions on the profits made shortly after the launch in late November. He sais that even though all pre-orders have been sold out, due to the production, marketing, and development costs, there will be a very low margin at first. So even though the demand is very high, the price and supply are to inelastic to provide a higher margin for Microsoft.

This article shows the demand of the new Ipad