3 ms·
Only insofar as demand is elastic and sufficient substitutes are available? An exogenous shock like that (a famine/blight, a war) can obliterate the market's ab
by kristjansson 5y ago
Only insofar as demand is elastic and sufficient substitutes are available? An exogenous shock like that (a famine/blight, a war) can obliterate the market's ability to clear over the short-run...