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Re: [APD] Hydroponics
What is paid *is* the demand. Galbraith introduced a slightly diff notion of demand, which equates to something like a willingness to pay more than you can -- a sort of psychological notion of "pent up demand" that fees inflation in certain circumstances. This was always a very controversial notion insofar as one tries to apply it to the more classic notion of demand (price paid). Galbraith had some good arguments for how they related to each other in the economy, but it was never accepted across the borad by economists.
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----- Original Message ----
From: Jerry Baker <jerry at bakerweb_biz>
To: aquatic plants digest <aquatic-plants at actwin_com>
Sent: Thursday, May 25, 2006 6:03:43 PM
Subject: Re: [APD] Hydroponics
. . . This has the natural
consequence that if people are willing to pay more for a product, then
it will cost more regardless of demand. . . .
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