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2018-04-15

Demand and Supply ?

It looks very simple, but looks can be deceiving. The lines on the graph are totally hypothetical! 

We can’t actually observe how much people would buy and sell at hypothetical prices. 


All we can see is how much people do buy and sell in the real world. According to the theory, that’s the point where the supply and demand curves meet. 
That’s very little information.


Noah Smith Bloomberg 13 april 2018

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