If vat beef becomes cheaper and tastier than traditional beef, waffles will become more expensive.
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Replying to @Spivonomist
@Spivonomist as measured in units of beef, or in absolute terms?1 reply 0 retweets 0 likes -
Replying to @Spivonomist
@Spivonomist how so? Its not like they're a complimentary good where demand would spike.1 reply 0 retweets 0 likes -
Replying to @Spivonomist
@Spivonomist um...what? You're saying bc pancakes have milk?1 reply 0 retweets 0 likes -
Replying to @Spivonomist
@Spivonomist@MorlockP Indeed. Good discussion of this in Friedman's Price Theory (Chapter 7). Except he uses mutton & wool made from sheep1 reply 0 retweets 0 likes
Replying to @dedubyadubya
@dedubyadubya @Spivonomist yep, it all makes sense. I was missing milk in pancakes. That clarified (hah! Cooking pun!), all is clear.
7:03 PM - 25 May 2015
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