ABSTRACT
Not only had participants in the market process anticipated the increased gasoline demands of college students leaving for Spring Break, they had also stocked sun tan oil, chips, beer, and frozen pizzas in their stores for the spring break travelers. Remembering the influx of students from past years, fast food joints along the highways leading to the beaches and ski resorts had made sure french fries, hamburgers, and tortillas would not run out as the students stopped for food. In fact, no government official had to assure enough gasoline or food, although the state patrol was reminded of the potential for increased traffic. In fact, Cousin Carl and the other gas station owners did not even need
and the
to know whether it was Sid who bought the gas or Ruth and Ed who were on their way to Ed’s mother’s ninety-fifth birthday party. Instead, producers and consumers responded to changes in relative prices by increasing production and consumption of some items and reducing production and consumption of other items.
