This illustrates exactly why we make fun people who bleat about demand curve graphs from their econ 101 classes. Yes, this all works for commodities and zero barriers to entry in the market and perfect information and no collusion and no subsidies and no externalities and free of transaction costs. Take out just one of those assumptions for a given market and now you have the basis for a masters thesis.
This illustrates exactly why we make fun people who bleat about demand curve graphs from their econ 101 classes. Yes, this all works for commodities and zero barriers to entry in the market and perfect information and no collusion and no subsidies and no externalities and free of transaction costs. Take out just one of those assumptions for a given market and now you have the basis for a masters thesis.