Market equilibrium and structure
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Market equilibrium and structure book
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).