Free FerrarisThere is a Ferrari dealership that I have to pass every day on my way to work. The cars are beautiful out in the front of the dealership along the highway; mostly red with some bright yellows. I have always been a little self-conscious being a teacher, to actually go inside. When I looked up the prices on the Internet, the cheapest one is $170,000 more than triple my salary. Please answer the following questions for your essay:1.Why do Ferraris cost so much?The high cost of Ferraris is reflective of the car’s high demand and low supply and while some may view the price as absurdly high, Ferrari carters to a specific part of society. Thus consumer sovereignty has not only kept Ferrari in business throughout the years but can also be seen as helping Ferrari find the equilibrium price for years to come.
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