Kevin Willardsen, an assistant professor of economics in the Raj Soin College of Business, was interviewed by Dayton 24\/7 Now about rising grocery prices. “People’s preferences are changing and the initial structure of production was geared towards preferences pre-COVID,” he said.<\/p>\n
Willardsen said not only is production slow because plants have been shut down but people are changing what they’re buying at this time and companies are reluctant to give in.<\/p>\n
“If I start retooling what I make in order to adjust to that and a vaccine comes out, not only have I wasted money, I’m now less competitive than I was before,” he said.<\/p>\n
Willardsen added pricing will likely depend on how long the crisis lasts and how people react after.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kevin Willardsen, an assistant professor of economics in the Raj Soin College of Business, was interviewed by Dayton 24\/7 Now about rising grocery prices. “People’s preferences are changing and the initial structure of production was geared towards preferences pre-COVID,” he … Continue reading