00:01
So here we're thinking about supply curve.
00:02
And let's just remember what a supply curve is, right? it's a relationship between quantity and price that reflects how much people are willing to supply at different points, right? so this is saying that if the price is 10, people might be willing to produce and sell 30 units.
00:17
And so now we have lower input prices, right? so the things that we need to make this thing get cheaper.
00:25
And my argument is here, it's that for any quantity, right, you should be able to sell for cheaper.
00:36
If you are making 30 or 3 ,000 or 30 ,000, if you are getting lower input prices, you should be able to sell for cheaper, right? so that means at any price, if this price is here or the price is here, if the price is here, if the price is here, you should be able to sell for cheaper, right? should be able to sell for a lower price...