Is there an econ term for a choice that is not elective? Like work, for instance. Most of us have to work, or we'll die. This has to influence the price you're willing to accept for work, bc you have to work. Different than truly elective stuff, like price for a new car
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Ah, yes. Suppose necessity is a moderating variable, though. Guess I'm asking what happens to the elasticity of demand when a person has to accept SOME price vs when they don't
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Wondering what UBI will do to wages that people will be willing to accept, really
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