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Incorrect. Only demand is determined by the consumers. Supply is determined by the willingness of those with resources to supply those resources at a given pric
by CPLX 8y ago
Incorrect. Only demand is determined by the consumers. Supply is determined by the willingness of those with resources to supply those resources at a given price.
- stouset 8y agoYou are straw-manning the original argument. GP said nothing about consumers controlling supply, just that it is part of the calculation that is used when a consumer determines a price they are willing to pay. If you’re going to try and be a pedant, at least base your reply on the actual argument you’re responding to.