The average household in the United States and Canada spends around one-third of its income on housing. Two-thirds of households own their home, and three-quarters of homeowners are paying off a mortgage. So, the price of a house is a big deal. What is the average price of a house today? The average price of … Continue reading Where are House Prices Heading?

INRIX, Inc., a world leader in transportation analysis, found that in 2021, the average American driver lost 36 hours due to traffic congestion. The most time lost to congestion in 2021 was in Chicago (104 hours), New York City (102 hours), and Philadelphia (90 hours). What is the marginal private cost of an hour lost … Continue reading The Cost of Traffic Congestion

President Joe Biden is expected to propose a new “Billionaire Minimum Income Tax” (BMIT) at a minimum rate of 20% on U.S. households worth more than $100 million. Over half the revenue could come from those worth more than $1 billion. How many billionaires are in the United States? How did their wealth change in … Continue reading Proposed Billionaire Tax

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