00:01
All right, so we're doing question number two.
00:05
And that's a very poor looking to.
00:09
That's still bad, but whatever.
00:11
We're doing question number two, which is asking, why do economists use the satiris paribus assumption? and as you can read, satiris paribus is latin for all other things being held the same.
00:25
And it's a good question, why it's used.
00:29
And it's best to think of it through an example.
00:33
So let's look at a supply and demand for, let's just say apples.
00:41
Apples.
00:44
We have our price up here and our quantity down here.
00:49
And you know, there's your supply curve and there's your demand curve...