September 20, 2013
The Price of Beer at Oktoberfest Defies Logic
Roberto Ferdman, Quartz
Beer is what economists call an elastic good; the more it costs, the less of it people buy. But at Oktoberfest, Germany's debaucherous annual beer festival in Munich, the rule doesn’t exactly hold. In fact, it gets flipped on its head.
TAGGED: Munich, Oktoberfest, Beer, Germany