• Billiam@lemmy.world
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    7 months ago

    My dude, corporations were putting in their earnings reports for the COVID years that they were having record profits because they were using COVID-based supply disruptions to increase their prices. Even a basic knowledge of economics would lead one to understand that if supply for a good becomes limited, demand stays the same, and profits go up, it could only be because the price of that good has significantly increased as well.

    • iopq@lemmy.world
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      6 months ago

      Profits go up per unit, but not necessarily the total amount since you’re moving fewer units

      • Billiam@lemmy.world
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        6 months ago

        Except corporations were posting record profits. So both profit per unit and overall profitability were increased.

        They took advantage of COVID to fleece the public.

      • njm1314@lemmy.world
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        6 months ago

        If you’ve been paying attention you would have seen that profit margins were going up as well

        • iopq@lemmy.world
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          6 months ago

          For some companies, sure.

          Intel and AMD, for example, already sold so many computers during the pandemic their profits are down now