The belief that prices were increasing, especially for essentials like eggs, housing, and used cars, significantly contributed to Donald Trump’s return to the White House this year. Although overall inflation was decreasing, price hikes continued to occur for particular items. Despite Trump’s claims attributing blame to Joe Biden, other factors influenced the situation. One key factor was the application of artificial intelligence to develop algorithms that tailored prices, benefiting specific businesses while harming consumers.

In school, many of us learned that two fundamental economic factors affect price setting. The first is profit: a business must price its goods above their costs to succeed. The second is the law of supply and demand: when the supply of a product drops or demand fo

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