Pretty interesting read but seemingly doesn’t hold super well in some real world situations. Extremely few goods have Inelastic demand and are purely differenti

Pretty interesting read but seemingly doesn’t hold super well in some real world situations. Extremely few goods have Inelastic demand and are purely differentiated by location - even car washes will have slightly different prices and services. (Even branding alone is a differentiator). But also the political section could not be further from the current climate: > Especially true in the American two-party system, political parties want to maximize vote allocated to their candidate. Political parties will adjust their platform to comply with the median voters’ demand. The Comparative Midpoints Model represents this idea best: Both political parties will get as close to the competing party’s platform while preserving its own identity