Product deflations are the opposite of upward-sloping supply curves. They are nowhere more obvious than in the market for flat-screen televisions.
Here are the equivalent buying powers for televisions over time, beginning at $300 in 2000. (Source: https://lnkd.in/gk97rVM) Processes improve, and people learn.
#supply #prices #learningcurve
In every current economics textbook, authors envision upward-sloping supply curves, where suppliers’ prices go up with increasing quantities. I found an example of one here: (https://lnkd.in/ehA3aez), where the increasing costs from left to right by mine form such a curve.
Has anyone found such curves outside of mining and refining?
If so, please let me know.
Thanks,
#mining #refining #prices #supply #supplycurve
