There are 115,109 electric vehicle chargers across the United States, and the Biden administration has said it will spend $5 billion to raise that number to 500,000. What is an electric vehicle? What is a charging station? An electric vehicle (EV) is a car, truck, or other vehicle powered by electricity stored in a rechargeable battery. An EV … Continue reading The Network Effect of EV Charging Stations

Shepherds in the United States have launched a lawsuit against their employers for illegally suppressing their wages by acting as a cartel. The lawsuit claims that the employers violated the Sherman Act.—Reuters Data According to Comparably.com, the average annual salary of a shepherd is $26,213. According to this Wall Street Journal article, there are around … Continue reading The Labor Market for Sheep Herding

The post-Covid new normal includes lots of outdoor activities like trail running, golf, and tennis. Nike is ready to meet the surging demand for sports shoes and apparel.—reuters.com In what type of market do producers of running shoes compete? The running shoe market is an example of monopolistic competition. Many firms sell running shoes and … Continue reading Nike Runs Past Manufacturing Setbacks

Google Ads is Google’s advertising platform on which users bid to display advertisements. In 2017, Facebook considered developing its own platform in competition with Google. In a deal called “Jedi Blue,” Google offered Facebook a low price to use Google Ads in return for Facebook not creating its own platform.—The New York Times How do … Continue reading Market Power in Internet Advertising

The world market for coconut milk is expected to grow rapidly over the next decade as greater awareness of health and wellness increases the demand for dairy alternatives.—prnewswire.com Data Total revenue in the global coconut milk market was $1.1 billion in 2019 and is expected to be $2.9 billion in 2027. It is difficult to … Continue reading Coconut Milk Popularity

The average U.S. home-Internet price increased from $40 a month in 2016 to $50 in 2020—a 25 percent increase. Over the same period, U.S. Internet users increased from 86 percent of the population in 2016 to 88 percent in 2019. Mia’s Budget and Preferences Mia’s choices maximize her total utility. In 2016, as a new … Continue reading Internet Prices

For $5.99, you can buy two plant-based hamburger patties. Or you can buy two pounds of ground beef and make even more patties. Food industry researchers anticipate price parity in five years.— cnbc.com Liam’s preferences and constraint Figure 1 shows Liam’s preferences for meat burgers and plant-based burgers Liam has $30 to spend every month … Continue reading Beyond Meat Battle to Achieve Price Parity with Real Meat

DCL Logistics in Fremont, California, is installing robots on e-commerce fulfillment lines. In 2021, U.S. companies spent more than $2 billion on almost 40,000 robots. Brian Tu, chief revenue officer for DCL, says robots are dependably fast and do not take breaks.—reuters.com In this post, we use a numerical example to compare the production schedules … Continue reading Robots Replacing Labor