Normal
Demand always equals price. This is a law of economics. What establishes demand is the customers willingness (for a lack of a better term) to pay for that item.For instance, if you go to United Airlines and request a ticket to go to Greece the same day. They’ll quote you $2300. Why? The demand for that request is in fact higher than the typical request that is usually 3 weeks in advance. They know that you need it so they inflate the produce/service based on that need. I don’t see how there is anything to dispute here.To answer your equation, I’d have to graph it, so that you can see there is in fact two curves that you are dealing with (a demand curve and a supply curve). One can be used to manipulate the other. If you slow down production (or supply) it’ll increase the value of an item (hence demand=price). What a customer is willing to pay is the demand in this case
Demand always equals price. This is a law of economics. What establishes demand is the customers willingness (for a lack of a better term) to pay for that item.
For instance, if you go to United Airlines and request a ticket to go to Greece the same day. They’ll quote you $2300. Why? The demand for that request is in fact higher than the typical request that is usually 3 weeks in advance. They know that you need it so they inflate the produce/service based on that need. I don’t see how there is anything to dispute here.
To answer your equation, I’d have to graph it, so that you can see there is in fact two curves that you are dealing with (a demand curve and a supply curve). One can be used to manipulate the other. If you slow down production (or supply) it’ll increase the value of an item (hence demand=price). What a customer is willing to pay is the demand in this case
