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Passover Profiteering - Jennifer Edwards Intermediate...

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Jennifer Edwards Intermediate Microeconomics Prof. Alpert May 2, 2010 Dear Editor, I read your article “Passover Profiteering” and I thought it was quite amazing how the author described the foreign country he was in as a rampant hyperinflation. As I read the article I was obsessed with finding out what the term hyperinflation meant. Hyperinflation is inflation that is very high or out of control. In the article “Passover Profiteering” the author described how a jar of jelly this year is five dollars but last year she seven dollars for the same jar of jelly. It seem to me that the foreign country she was in a had no kind of restriction on firms when it came to price–fixing so the firm was able to set their own prices when they feel like it. These firms used special holidays to increase prices on products, which increases the price of inflation on the goods. In some cases I agree that increasing the demand for goods in the season of Passover is relevant, but in this case the market clearing price is subjected to the
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