a Pete B snip followed by > my comment... 
Honey, wholesale
1975 	$.40
2000 	$.50
2015 	$2.09

2018 	$1.80-$2.65

>Since these $ numbers are an essential part of the simplified business equation the $ value you assign here has a large outcome on the final number.  I do not sell my honey wholesale and at least in conversation the current wholesale price has more down side $ value than the above listing would suggest.  2018 $ values perhaps as low as $1.25 according to some of my commercial sources. Since I sell my own honey at retail price (a bit over 3X the above price) this also has a dramatic impact on the 'opportunity cost' of a nuc I sell. At least here there is no devaluation of honey price due to color which makes the output of the equation much more stable < less variation = less price risk.

>As an economist in a prior life I should add that all things economic are filled with a long list of assumptions (with the word meaning essentially to the best of our understanding or knowledge) and economic models are conceptual (you can go the next step as Pete has above and empirically test these in the real world).  Another example in Bee Culture (I think I picked up the detail there??) honey consumption per person in the US has double in recent times but the price has not which would appear to run counter to the basic idea of supply and demand (a macro economic concept) but we pretty well understand that any rules that applies to human behavior (and on occasion to physical reality) is quite often filled with exceptions..

Gene in Central Texas  

 

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