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Race to the bottom.
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Posted 3/12/2019 04:05 (#7374899 - in reply to #7373961)
Subject: RE: Race to the bottom.

east central PA
. . . and there is plenty of affordable groceries in the store and being wasted . . . as long as supply exceeds demand.

When i'm feeling blue about the food business I try to think hard about "inelastic demand curve".

A slight surplus ruins price totally while a slight scarcity gives huge profits.
Low barriers to entry.
No single producer has any impact on price received.
Few substitutes. (no substitutes for food)

Plus, it all depends on weather and public policy?

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