17 May 2022 6:57 pm
horizontal demand curve? circle logic created to ignore perpetual balancing on a universal scale signifying there is a natural perpetual motion present.Skans » 17 May 2022, 4:04 pm » wrote: ↑ Can you not say the same thing about a horizontal demand curve? That demand would be the same regardless of price? Again, as you go to the limits of each curve, you delve into the realm of philosophy and away from economics.
Let's play with the vertical demand curve for a moment. You are in a room where I control the air. You are the Fed Chairman and truly have an unlimited amount of money at your disposal. I would love to sell you as much air as you need, and you say you can pay my price. You offer me a trillion dollars - I say not enough. After making several more offers, you finally ask me "how much for the air"? I say "I've got your son in room 102" - your air to survive will cost you his life. Are you going to take the deal? How would you graph this?