Ok, I have been thinking about this one, and I need some educated input.
Here are some givens:
Average Income : 150 Florins
Average cost of large pig : 30 Florins
Average cost of tulip bulb : 2500 Florins
The price depended on color, type as well. The highest price was 6000 Florins for one tulip bulb.
The next year in 1637, the price of a tulip bulb plummeted, drastically.
Question: Why did the price of Tulipd skyrocket, and why did they plummet the next year?
Thank You Very Much for your input
2006-10-24
10:29:20
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5 answers
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asked by
the.bedel
1
in
Economics