FTC asked to investigate gas prices for possible gouging

[Lucky]

Originally posted by: dahunan

Originally posted by: glen
"Price gouging" says that I am immoral for selling something at the price demand allows.

Lets say I have one widget for sale.
3 people want to buy it.
person X will pay $2
person Y will pay $3
person Z will pay $4
Why not sell it for $4?
"Price gouging" suggests that selling to Z is immoral

The point of diminishing returns.....

The Nations Economy is very much tied to Fuel Prices and if ALL of them choose to raise the prices then tell us what happens?

Hello, it's called competition. Even if every single station in the whole country was in collusion to raise the price to $10/gallon a couple would get greedy and undercut the rest. More would match because they want that flood of business too. This is the way it happens in the airline industry as well.