Carol Skonberg, a housewife and part-time piano teacher, thought she was filling a crying need with her wineglass jewelry (“Eve Tahmincioglu, “Even the Best Ideas Don’t Sell Themselves,” New York Times, October 9, 2003, C9). Her Wine Jewels are sterling silver charms of elephants, palm trees, and other subjects that hook on wineglass stems so […]
A few years ago, virtually every U.S. food company had seemed to “Atkinize,” introducing low carbohydrate foods by removing sugar and starch. In 1999, few food or beverage products were sold as “no-carb” or “low-carb.” In 2003, some 500 products carried such labels, and by 2004, more than 3,000 products made such a claim (Melanie […]
Cheap handheld video cameras have revolutionized the hard-core pornography market. Previously, making movies required expensive equipment and some technical expertise. Today, anyone with a couple hundred dollars and a moderately steady hand can buy and use a video camera to make a movie. Consequently, many new firms have entered the market, and the supply curve […]
In 2007, the average price of renting a ship to carry raw materials from Brazil to China nearly tripled to $180,000 a day from $65,000 in the previous year (Robert Guy Matthews, “Ship Shortage Pushes Up Prices of Raw Materials,” Wall Street Journal, October 22, 2007, A1). a. Use graphs to illustrate that this increase […]
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