The Price of the Cars We Choose
A falling price tag can conceal a rising car bill. When sales shift toward expensive vehicles, the average transaction price can climb even if every model costs less than before. The arithmetic is plain; the market it exposes is less comforting. Averages tell us what sold, not what happened to the price of each car.The sales mix is the hidden hand here. Imagine a market selling two models: a small...More
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