MEGAPRICES

The megaprice is not a real price that is ever actually paid, but it is a useful tool for economists to illustrate how price affects the economy. The megaprice can be used to measure the potential value of a good or asset. For example, if a company is thinking about selling a new product, the megaprice can help them determine how much they could charge for the product... The megaprice is also used to measure the impact of price controls. For example, if the government decides to place a price ceiling on a product, the megaprice can help economists measure the impact of the price control.

Also known as: megaprice