The cost for crude oil rose above $71 a barrel today for the first time in a month as increasing industrial activity bolstered consumer and business optimism that fuel demand will rebound. As a result, expect to shortly be paying more at the gas pump.

Quick: You’re walking by a store window and you see a sign that says, “20% off the original price plus an additional 25% off the already reduced sale price.” So, how much is the discount" Consumers often mistakenly think the total discount is 45% off the original price when, in fact, the true discount is 40%.

An important new study examines how immigration influences the prices of consumer goods. The study, forthcoming in the Journal of Political Economy, challenges the predictions of the perfectly competitive model – that an increase in demand leads to higher prices.

Standard economics assumes that people base their decisions on real value only and take changes in price tags properly into account. For example, a rational consumer is assumed to base his shopping decisions on “real” prices (e.g., how many hours do I have to work for a loaf of bread?) and would not change his consumption patterns if all “nominal” prices were to move in proportion (e.g. are inflated by the same factor).

Price drop coincides with release of “Madden NFL 08” on Xbox 360, one of many titles that make up the greatest holiday lineup in video game history.

Consent Order Bars Group’s Doctors from Jointly Negotiating Prices or Terms of Service

CITIGROUP Inc, the world's largest financial services company, raised its forecast for crude oil prices, saying the Organization of Petroleum Exporting Countries may increasingly be able to keep prices from falling.