Hey Sal, Amazon can and does figure out exactly what your willingness to pay is as a buyer. It's actually a bonafide science at this point how to price things for specific buyers based on their willingness to pay.
One question - You want us to assume that say we know that our very first customer is ready to pay $500 for the first room and we charge him that price and then for next room somebody is ready to pay us $375 and we charge him that - my question here is - what if for the next room also a customer is willing to pay $500 or may be more - then drawing a downward sloping demand curve won't be possible and the shape of the demand curve will be indeterminent, isn't it? Please answer.
In your case, your demand curve will be completely different from the one in the video. Assuming there is another customer willing to pay $500, the quantity demanded at $500 will be 2. Keep in mind that the demand curve in the real world is not a straight line, but it will be almost always downwards sloping
this benefits lower classes honestly and makes me realize why rich upper class privileged folk want price-equality reality is, there will always be discrimination, might as well mitigate it then
thank you a lot khan academy for making videos like this really help us a lot as a student in learning this topic
Thank you Khan Academy I hope someday I have a chance to work as a intern at Khan Academy too.
Hey Sal,
Amazon can and does figure out exactly what your willingness to pay is as a buyer.
It's actually a bonafide science at this point how to price things for specific buyers based on their willingness to pay.
I enjoy economy
Perhaps, this illustration could be taken for the first degree of price discrimination.
blessed
Where are you from Khan Academy
One question -
You want us to assume that say we know that our very first customer is ready to pay $500 for the first room and we charge him that price and then for next room somebody is ready to pay us $375 and we charge him that - my question here is - what if for the next room also a customer is willing to pay $500 or may be more - then drawing a downward sloping demand curve won't be possible and the shape of the demand curve will be indeterminent, isn't it?
Please answer.
In your case, your demand curve will be completely different from the one in the video. Assuming there is another customer willing to pay $500, the quantity demanded at $500 will be 2. Keep in mind that the demand curve in the real world is not a straight line, but it will be almost always downwards sloping
GOAT
this benefits lower classes honestly
and makes me realize why rich upper class privileged folk want price-equality
reality is, there will always be discrimination, might as well mitigate it then
💪💪💪
That computer is trained on a neural network! ( Requires tons of more math. )