My Education in Economics

On my regular drive home, there’s a Red Roof Inn (and Suites!) by the freeway with a big sign advertising its price. It’s typically $49.99 (often $59.99 weekends) for a room. But during our annual Balloon Fiesta in October, when the town fills up with tourists, the price typically goes up to $89.99 or $99.99.

“Price gouging,” I used to mutter as I drove by.

Then I took some classes in economics and read a bunch.

Now during Balloon Fiesta, when the price goes up, I say to myself, “That makes sense.”