You chat. It’s nothing.
(When demand increases, price increases; but when price increases, quantity demanded falls!)
Wow, that’s cool.
(The price mechanism rations the limited goods and services to those who are most willing and able to pay, based on dollar votes.)
So what that’s what you do?
(The price mechanism achieves allocative efficiency.)
(But we have to make a lot of assumptions.)
(The government sometimes likes to intervene in markets by giving out subsidies. For example, Edusave is provided to all students to correct for market failure in education.)
Nice. Yeah I like that too. Totally relatable.