Black Friday - Related to Law of Supply

Black Friday - Related to Law of Supply - ECO 201 The Law...

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ECO – 201 The Law of Supply and Supply and demand Black Friday is the day after Thanksgiving once a year, in which retailers use to kick off the holiday season in which retailers use much of their profits, to go from the red into the black. My opinion on Black Friday is that it is the worst shopping day of the year: because, the day is just very chaotic and unbearable in my point of view. For example, you stand in line or campout at a store for roughly ten hours before it opens for what to save a couple hundred dollars. The law of supply, which states that, holding everything else constant, increases in price cause increases in the quantity supplied, and decreases in the quantity supplied (Hubbard & O’brien, 2006, p.74). Furthermore, on Black Friday the law of supply would be to increase the quantity supplied of that item and to have decreases in the price in order to make a profit for that year which would put one back in the black. Furthermore, “Caleb Anderson of Sioux Falls, S.D., began camping out at his local Best Buy at 2 p.m.
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This note was uploaded on 05/06/2008 for the course ECON 201 taught by Professor Spessard during the Spring '07 term at Hagerstown CC.

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Black Friday - Related to Law of Supply - ECO 201 The Law...

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