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I'd love for you to cite some legal precedents of people being convicted of "price gouging". Especially cases where the retail markup was as paltry as 36%. Further, I'd be interested in seeing the actual text of some statutes regarding price gouging. Certainly a lawyer should be able to produce such information.
What you call "price gouging" is actually a fair way for a market to allocate resources. If the price of a rapidly diminishing product does not increase, the supplies will quickly dwindle. This will leave little or none of that product available to the people who really need it. Rather, you end up with people driving around with perfectly good DICs in their engines with another in the trunk while some other guy's car sits in his driveway, undriveable, because DICs are no longer available.
Sorry you may be a lawyer but you are clearly not an economist. You don't get to arbitrarily decide what constitutes a fair price or a "reasonable profit" in a free market. Care to divulge your cost and profit structure?
jeff
posted by 138.162....
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