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by TheCowboy
3209 days ago
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It's disingenuous to argue that because these simple models do not spit out a specific price that businesses can't and don't make use of them. Most of the time they're implied when reasoning about things. Plenty of data and evidence exist to demonstrate economics is a useful tool. Choosing to ignore empirically grounded knowledge makes you no more clever than a flat earther. If your restaurant decided to drop the prices on their meals to $1, without changing anything else, would demand increase or decrease? I've worked in a restaurant too, but even if I hadn't I could give you an answer. You provided no evidence to refute any of them except to make a weak claim of authority based on having worked in a restaurant. These are simple models that make predictions about real world outcomes that can be tested. That is, using observation we can prove or disprove hypotheses that I've mentioned. Provide evidence or move on. |
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