Gotcha. You're more referring to this, right? https://justinjackson.ca/this-tree-guy-has-good-business-advice …pic.twitter.com/NrVRYc23Ns
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Yes! But the price testing we do with digital products basically follows the demand curve.pic.twitter.com/AtsNTc9NYC
I'm familiar with the theory...was just clarifying what you meant when you mentioned certain terms (given the example used). I stay more on the practical side. Don't know anyone running a biz that calculates demand, etc. like in those graphs.
That's kind of what I'm saying: the simple pricing tests we do seem to align with the theory. (Especially when it come to price elasticity) I'm not saying we should be calculating demand the econ folks do. But a lot of this theory seems to hold true for me.pic.twitter.com/aBbz7bjUEu
BTW, I'm indifferent to that theory but I remember a while back reading about people (smarter than me) thinking it wasn't real world. Just did a Google search for "demand curve myth" and looks like (almost) fun reading. And this: https://en.wikipedia.org/wiki/Supply_and_demand#Criticisms …
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