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Market equilibrium and structure
DOI link for Market equilibrium and structure
Market equilibrium and structure book
Market equilibrium and structure
DOI link for Market equilibrium and structure
Market equilibrium and structure book
ABSTRACT
In Chapter 6, I was somewhat liberal with my use of the term market and market equilibrium with respect to describing Figure 6.2; namely, supply denoted a representative entrepreneur and demand denoted a representative consumer. This was done so that I could focus on the individual concepts of supply and demand as economic models that define the opportunity cost of the entrepreneur (supply) and the opportunity cost of a consumer (demand). In addition, I showed that the economic information in Figure 6.2 parallels what is in the Architectural Plan for Profit (Figure 7.1).