Can anyone explain how to read that first graph? Like, there's a line for demand, say, but given the axes labels, it seems to say "for greater demand, the price goes down", so the exact opposite of what basic price theory predicts.
Same for the supply lines, just the other way around.
Also, the use of straight lines indicates a linear relationship. Is that really the case in practice?
it's classic "economists don't know what they're doing" case - traditionally they switch labels, with input variable on the y axis
kleiba2 · · focus · HN ↗
Same for the supply lines, just the other way around.
Also, the use of straight lines indicates a linear relationship. Is that really the case in practice?
NooneAtAll3 · · focus · HN ↗
why? no idea
kleiba2 · · focus · HN ↗