Generally it's not a great idea to rely on high school or entry-level university courses as the final word on anything... for starters, what about situations where the price is already distorted by bad actors fucking with the supply levels, such as cartel or monopolist situations?
You've been replying to questions about specific situations with generalities! That's not compelling.
Hell, oil was at $100+ a barrel for years within the past decade, without the same level of gasoline prices seen today in the US: that suggests there's more to the current situation then just econ-101 "high input prices mean output price has to be high too".
You've been replying to questions about specific situations with generalities! That's not compelling.
Hell, oil was at $100+ a barrel for years within the past decade, without the same level of gasoline prices seen today in the US: that suggests there's more to the current situation then just econ-101 "high input prices mean output price has to be high too".