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Pastimes : Austrian Economics, a lens on everyday reality -- Ignore unavailable to you. Want to Upgrade?


To: Don Lloyd who wrote (132)9/19/2002 3:44:40 PM
From: Wildstar  Read Replies (2) | Respond to of 445
 
Don,
We know only one thing when there remains only one buyer at a given market price. That buyer has a higher subjective marginal utility for the given quantity of plywood than he does for the market price expended. For everyone else, the order is reversed.

I'm not necessarily willing to call that an objective comparison, but it's the only comparison there is.


Fair enough.

Wildstar