CUNY Bronx Community College Economics Discussion

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Suppose, as the Commerce Secretary, you were tasked to investigate, “Should the government impose a price control on the companies that manufacture ventilators?” “What might be the pros and cons of a possible price control on ventilators?” Suppose there was a shortage of pencils and the price rose from 1 cent per pencil to $1.00 – a 100% increase. “Should the government impose price controls on pencils?”In general, “What products or services might call for price controls?”

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Dear Colleagues,
I hope you are all well and healthy.
In addition to this discussion board, I am trying to introduce us to new and different materials that are “fact-based”, without bias, an excellent
source, albeit,
liberal is WNYC, 93.9 FM
This little podcast was on WNYC’s Marketplace and discusses the rising price of ventilators – current price is $25,000!
States and FEMA are separately competing for ventilators, which is driving prices up to roughly $25,000 each. Today, we look
at the market forces at work…
Link to the podcast: respirator_prices Note – just need to listen from 0:00 second to about 3:43 seconds.
Suppose, as the Commerce Secretary, you were tasked to investigate, “Should the government impose a price control on the companies that
manufacture ventilators?”
“What might be the pros and cons of a possible price control on ventilators?”
Suppose there was a shortage of pencils and the price rose from 1 cent per pencil to $1.00 – a 100% increase. “Should the government
impose price controls on pencils?”
In general, “What products or services might call for price controls ?”
Please recall to use our rubric

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