But since we're working with money and we're working with dollars, we should just round to the nearest penny.

Because to get that banana to your store, you need to use some gasoline.

Look, Pat, First Rate got that contract fair and square.

Because batteries life cycle improve a bit of improvement on energy density, which reduces the price.

Ninety nine pence was the starting price and no reserve.

Let's look at these cases a little bit more carefully and figure out what's going on.

So technically I guess prices can be rounded off to the nearest cent.

liquidity and things like that in the future.

So you don't want to bid more than what it's really worth to you.

let's say that they are traded in some market.

What drove prices to increase so fast?

And what we'll do in future videos is we'll actually explore situations in which that does happen.

The entire curve, regardless of the price point at any given price point the quantity demanded will actually go down.

(Laughter)

Or, God forbid, if housing prices actually go down.

Sold... for 380,000 poundsto bidder 755.Thank you.

And then they would take a loss.

So I don't buy it on two counts.

This is better than the median, because the

Some of it will go back to your own pocket.

How much will it cost you and your spacesuit to go to orbit?

Sold to the lady for 25 cents.

Sold for 4000.

If you ever think about it, pricing that you negotiate yeah, we kind of have this price on paper, but that's just the starting point of the conversation.

Why would you pay 2 billion?

Then auctions like eBay are another example of dynamic pricing.

So price on the vertical axis and so this is really price per pound

It becomes 10 times worse when housing prices are flat.

Well the worst thing I can have happen is that the share of IBM goes to 0.

What's expensive?

Price

ceterus perebus all the relationship between price and quantity demanded.

And just so that we get some of the other details that we see here, this bid right here, this is what someone has explicitly said that they are willing to pay for a share.

But to make it more real, if the price of an automobile had fallen as rapidly as the price of computing power, you could buy a car today for five dollars.

Features X is this window, excuse me, is this file with two columns of data.

Now compare that with real price increments.

It was just sitting in Fort Knox or wherever it happens to be sitting and to some degree, it's more of a pain than any kind of real value because you have to keep up this notion that these things, these dollar bills, could be translated into gold, it kind of forced a reserve ratio requirement on the central bank itself.

Sum from i equals 1 to M of the square difference between this is the prediction of my hypothesis when it is input the size of house number i, right, minus the actual price that house number i will sell for and I want to minimize the sum of my training set sum from i equals 1 through M of the difference of this squared error, square difference between the predicted price of the house and the price that it will actually sell for.

When we talk about octave and program languages later, you can actually, you'll actually write this in one line of code.

So it's a quote unquote fire sale.

They want to encourage high volume purchases, and so they have stepped pricing that is oriented to create volume.

The market drop has cleaned me out.

And housing prices continue to fall even as the latest economic stimulus package fights its way through...

In fact she'd just been accepted

And so the first of these that I will focus on the first is the price of competing products.