A transaction occurs and the invisible hand does its work (the middle frame). The park bench reader

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A transaction occurs and the invisible hand does its work (the middle frame). The park bench reader buys the vendor’s sun shade. This transaction tells us that the reader’s marginal benefit from shade exceeds the vendor’s marginal cost of shade.

© The New Yorker Collection 1985 Mike Twohy from cartoonbank.com. All Rights Reserved.

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Foundations Of Microeconomics

ISBN: 9780134491981

8th Edition

Authors: Robin Bade, Michael Parkin

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