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| Remember this though: the cost of a steak laying in the grocery store freezer has many, many costs that go into it. We are only talking about an increase in one of those costs, the cost of the actual animal. Let's assume (and I have no idea how accurate this is) that the cost of a steak is 40% determined by the cast of the animal itself. If the cost of the animal goes up 50% this only translates into a 20% increase in the cost of the steak in the grocery store freezer. I have a feeling that both of those numbers (40% & 50%) are high assumptions. I am sure someone else on here knows more about that than me. I don't know that even a 20% increase in the cost of a steak would result in much rationing.
Many steaks are eaten in restaraunts and this would all probably translate into a less than 10% increase in the cost of the meal at the restaraunt... | |
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you know the prices won't stay up
