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Hard to know whether the bulk of the surplus is being captured by consumer or producers in this situation (from your tone I would assume that you prefer the con
by savanaly 12y ago
Hard to know whether the bulk of the surplus is being captured by consumer or producers in this situation (from your tone I would assume that you prefer the consumers would capture it?) without knowing the elasticities of the forces at play-- but don't rule either one out just yet.
- altcognito 12y agoFancy words that cover up the fact that efficient markets are not necessarily the best ones for human beings.
- savanaly 12y agoI'm sorry for the fancy words. I truly don't know what other words to use to express the concepts here. It really is a fact that there is something called elasticity, and it has influence over whose welfare is increased after a price change. And I feel like that might just matter here.