The trouble with your black and white absolute world
Posted on: March 2, 2023 at 14:37:16 CT
JG
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is it ignores many many many things. If you had thrown in a generally I would have had an opposite answer for each question. But if consumers are always going for the cheapest product and producers are always paying the cheapest labor-and producers are always charging the maximum price- well thats a giant loser of an economy.
Consumers will lose and producers WOULD NOT maximize their profits.