You can see Adam Smiths invisible hand idea in the cartoon. On a hot sunny day, a

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You can see Adam Smith’s invisible hand idea in the cartoon.

On a hot sunny day, a cold-drinks vendor approaches a man sitting in a park reading a newspaper (the top frame). The vendor has both cold drinks and shade and an opportunity cost and a minimum supply-price of each item. The park bench reader has a marginal benefit from a cold drink and from shade.

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Foundations Of Microeconomics

ISBN: 9780134491981

8th Edition

Authors: Robin Bade, Michael Parkin

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