Please Scott, I've had enough of Macroeconomics! :-) (Or was that Micro?!)
RonS
> -----Original Message-----
> From: owner-olympus@xxxxxxxxxxxxxxx
> [mailto:owner-olympus@xxxxxxxxxxxxxxx]On Behalf Of Scott Nelson
> Sent: Friday, June 23, 2000 5:03 PM
> To: olympus@xxxxxxxxxxxxxxx
> Subject: RE: [OM] OM me gawd... -Reply
>
>
> Actually, this is precisely how the equilibrium price point is
> reached since
> it's the intersection of the demand and supply curves. We do
> remember the supply
> curve, don't we? Reagan was in love with it. I think you're
> forgetting that
> supply and demand are elastic. I can get you all the demand you
> could use for
> Lexus sedans at $1/unit, I just don't think you'll see much supply.
>
> <<I think less demand lead to higher prices, which lead to even less
> demand, etc. which is opposite to the way economics is supposed to
> work. Now, I don't know squat about econ, but increases in demand I
> think are supposed to raise prices, and a loss of demand is
> supposed to lower
> prices. >>
>
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