Josh Hendrickson's explanation of total demand is better. I ...

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2026-02-25T19:47:04Z

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25558597637a525e89f57f5c9df8fd4e30b70386173d23c265dcaf6efc563e9f...

Josh Hendrickson's explanation of total demand is better. I think of supply as an arbitrage opportunity for the seller. Marginal demand is poorly understood, and your post captures the right bargaining dynamics.

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