Too many people’s entire understanding of Economics is based on learning about two lemonade stands competing to sell lemonade. For some reason they stopped there and apply it to literally everything.
It’s like learning the food pyramid and then trying to use it to explain the digestive system.
That’s only true if demand is perfectly elastic
Too many people’s entire understanding of Economics is based on learning about two lemonade stands competing to sell lemonade. For some reason they stopped there and apply it to literally everything.
It’s like learning the food pyramid and then trying to use it to explain the digestive system.