One of my students wrote a very interesting paper about his experience working in a music venue. When the owners raised the price, demand remained constant, but tips fell, leaving customers out of pocket costs relatively constant.
I'm putting his paper on my blog. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu michaelperelman.wordpress.com
