American Gangster

Media Type: Film Clips Topic: Pricing, Behavioral Economics, The Firm

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Denzel Washington's character goes straight to the source of heroin in SE Asia to buy it in bulk.  He then is able to sell a better (purer) product at a lower price than existing dealers. In order to accomplish this he brands his heroin "Blue Magic"—a good illustration that brands convey information to consumers. I use this scene in my discussion of markets, specifically to illustrate market power.  This is a powerful scene to use when discussing copyright.

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