3 ms·
If you have a unique item your supply curve is flat at 1 supply and steps down to 0 at a price at which you refuse to sell. It’s still a supply curve and there
by TimPC 4y ago
If you have a unique item your supply curve is flat at 1 supply and steps down to 0 at a price at which you refuse to sell. It’s still a supply curve and there is still a corresponding demand curve that determines the price you can sell at. In this case, it’s the demand of the highest bidder that causes the intersection. But the theory of supply and demand doesn’t go out the window because items are non-fungible.
- pandaman 4y agoSo now you have "demand curve of $CUSTOMER"? There are also no individual demand curves. The whole idea of supply/demand curves is statistical and does not apply to a single individual (as same as unique items). I have no more questions about the "land tax won't be passed to the end consumer" though so here is some result from this exchange :)