CHAPTER 06: “DEMAm AND DEMAND FONCTION sethen? Neke Her Vhs lb the veloiiewlnip Osman 9 neuhiy * Dewond co cemmeediny aad ofl she Ryetows Yar inflene dewarded Govt enlye Wpice). iffevet Aron demon ewat! ). + howe of Aewawd’ Cetesis Rambus, bye & & commeditiy owl 1s aynavitty dewanded ove, trench yeloted - CPret aoe trteme afer aud sralertimtion CRRect Of ov Hee cbenge, cwel omumer Tha pvloviinken cheect be shreger) + . fe he Lane of dew > When effect Coemipiusius tovoruniien) : Seme (geeple dake he welt £m geek wf its prey 9 TE, TBS 1 aby dd came > Gian aprdat shogly hese gece | ineawe effed Hhveger New yrdeminien effecr 2 ad came ckumd sobrbivge Beir blo Aewand Randtion avd dewmnd cumet Deval aoe ay Anan try ultigg obi determina ef demand Benchion, odgeut Fre Jane, tnt (9 ester pordbus omampton). + Sie focrtys of Ad canes Tarte sBacowe, Changes iv denen ef ether oped, bythe enpenditve, pebploies ote t Demand fev gerbe thet art wotr Arwvanclad, loge + Peeque Dem) + Labiviawle tw neti Aust weds diaaldy, nt (or waning Aen te Aprdte HAY conrad geeks wtnely divedty stoly Hie usa Tus,+ Revowt critevin (denirolabe) Ree om arvaF comet woritlon oo + > Unnatyicted Demain > TSA > Pome Porneple > WAH Diantersvib ® Auraria son's stirs We Ctra) C Bere + Oink ceetiienty Levent Amnamie, Attuned Theevar, Gennolized leven caine, 'S'o" Them, Fira Pmt).Aaa hee footer wip, torches folesan as che dedvedl Aeround Tomes e deur Gey Het guide ib ‘denved “from Re demoed fer thor grads Keg + Preauter Grete Fuchs as cabin, eqvipmevde , plpave: dpadte oko d 2 Netwerk: enremaltities » > Bawdwagon erpects bah HE weve pele obveinds, evn os geod Chostwes/foa) . Makes Ad come gree hast. 7 Smog CRP ECT: Negative nehue entemollity, omsts Gem Gerive TE posses oe uastyat Commit easengs: Frome Jprerhige wolue © Molses demand Gune Less dawne-CuAPTER OF} CONSUMER'S BERARCOR— CARDINAL UTILITY ARABIC Thee cre ever theon'e fh ty to Jprne Hee Lows of Derek + > Uardivll riliny omabysis > Tat cue cwabys BY one fo eatrbbahy s Knvame veh fd > Famers Reraled friprine hog | praeie a youd el ch gnks Werle Toe arontt hy denuded > Ride login Ortersois Trees Assom monisi( fe Meshal sk WRU: Ars) Wy Utillg Ke candinadlyy rreostunlste; Matai aid Hoh Mu ss Trcamuralle. in temve Of vmsg — the cman of rig. Tet os speven te teins te yay for ogy antler thew opr vette GE 1s oe weamne ef The ULI be derivtg Frere thet gyord: bok eSETY cule Septal er eg, comaien) By Fyaisduoll MRA owe “indeerdendt! ound Vadditwe! = eens CO WUOE daactrads te (@ Mergval vaslary of wertg vs © tine Yramg); Waneay (OMY Te dimiwsinge Aye corned nea: + Peanscieue of EGU MaRGnay UTuaTys STE comer” Vill diatibnte Win mrenng inceme Lehwteny Gerda be eck o uray fhe Hoe Uality, dese frome the last AP pent en tod gy do cero? MG = MOA MVE. Gash rr om) be ve Cathet 72 Candivell, prenmralllityy yea wired, > Wades nlity SF Goes 3M ee gt petit) Cn eabity)+ Poot of Law g¢ DENN Using Egui- MARGUOAY UNwTH E for eaiWibrun, MOq 2 (MOr/pay > (04 / by) Rew Th fe Ye egitim venta be Aubtualsed, ond MOa veo need te Anh AO reste Hike epmititrain Creamer, MUy da dames cowie!) 9 Bae wit need to A Co af aiwiwsniy DO, a> GA, M0, ), BPs bah, Ga TE Cretens panlous). (Nore Hor income effect iS lymered eve — a0 Jon &, peak ouome. Bh Commer wih T awd Wy Wt dhage - Bik Mer to oveumtd own), 2 caer whine conttamage tf Mm iS Ame > Pte elaskety ef dewand Jo uh be, een vse Din fevrdrare. * Co Cemmenediyy Forownvay o fran ie Apri | te wens enkovalitore wade en UC vemaina the hove. PF Wien wil sewrrin abjrwrewely conttont Gor valutivelys Less Vwrkertad® yada thet ctu for a region be. spoon of He Lenoir’ exgerdituve - * Shirieisn OF MARSRALIAN ANAS ( Gordie mermerabiliy in wnnatedre & Berodual vires ove wet indenter” and additive (3 Moy de net nro EH) Tynes intone ofgect’ — CSEE HO Gieed})(Ss Canwtl caiplorn GbE Syreds (6 TE WRATH] Mavshalbion dewand Hever cama 4 guanine Aeved execpt in onem temmedity Gantt frok: Aswwe, din See lan cpostin Mts e Aen) (ray 2 MLE MOQ RS New, Foo ye ies te Re 4 0.8, [pre < Months] 3 TR titel, cyeuadiption Bae was egy Wane ot weit wath fer Pek te QF ie M00, com aise omed pall Wem pe) + Now, Wem vill rewniny canst erly JE (yeat) = tak) jhe, iE pric elastic, Apwrand = 4 Bek Hes te a veatbichve assunipten, umbitelys te be true PTE toe oliew cleemn't hw, Chea, delat < ‘pr te) a terouney Jo Vet w/ asset wwmnny fri ether ayvede D Demand Ker ster gueda will elem. GA rw ef aber goede Vor eburgeds Hua, on Maral Anemy,, WOm neat ome draped He necemitnde change ov demand ter bhley ayer (1G, interne effec wet Youre operated). 7 Tae tenhrodlids assumighen ef cendtoad” Nim Mahalo covdival conabiyos gnby unl for eam ped cot + Cee te Tee la wa pate Elehectye * demand,7 Rete thot Mawslalbiom axjprrncle 1 no a dewarl, > D Cerrdinel , indelendunt, galdi te individual wilitta © Wow = cenetoat © law of ea wi-mnomgs nal wbibity:IWDFFERENCE Cote AnAWdss OF DEMAND Bila awd Ldgonertts tuncined Marshes Cerdivel nih ity ovelyye, avd Grtodised the Le aires Thea tuned thed Cennumor prefer OMe Ly Gomigide” Dead ower atl Possiebe buvele altterredves @ Tromanh (B Ursahoteh: Were Jn peared tr less (A) Flows diwawislinge marginal Litt te ow povahe ager Tag Fuster acume Hed ublitg is rberak, Ccomsusney conn Srevtle vomnew Wrumdlee) , owed Tet umouwent ent Joegedt onfernaben’ Gren te, Pidan Men akbsencle wel 36s aa cunsea Hed vpmnedt Kourdlan of qd Av pre Me mame level af oh bityy te eemoumbw: ® MARS 2 MNES yy be The cumin Peg Ter fe comer an wails Te ae lp te gain one editions wor hn will, Rrimagngs en Hae faowwe EC MES og la piven boy oe loka tf The Ee Now, misuse, AG Gods awe Gwlperdpck_pruteatiytta > Went Ror oan one Jpantioulos geek ap gatialile we cavy Phage Ak Jpvefeventen with Folios diwuwiatavgs MEE Com tewrtuniy Woe nme of xe, Less aud Less owweuedt of se rretuaived re cewlemaake Winn Ere less of ent: wlth of a). New, along ow Te, Olay) re : ay dae 3 f Boar + 20 dx) 0 yo MoH cK a ak By4 Cosette brggea | Mag © Aya 7 ~ ME mo4) , PPitomiavies? Pyaniee of tes > (H ies ave Anonward sie! Te Stag en same led eh uibbity, a5 tooumighon ¢f om geek T, Hed a the etter ull Wy. (> Ts awe Convtn te the exigent Toolphyy diiwishing, MES VEme] : Tp tes ave contave, Yr went Seals A mes, anh Cemavumens weit) owl. consume ewe oyerd Co NNORE MARIA) Jiao e 5 scianet) (Tes nevev sdersect = WIN Wolere Trawstaihy IP tug ded QB fogec Sudstintes onal Pofeck Clematis: The cumahive & Gor TO dehwwes Te dey af sraldoot alain wha 2 ord Huger tne cumodhwe 3 lowty the aukutiinknlewty. 2 extant ines! . oes Ky 7 he To, Lag) aint a) Wougle Ga teyy - @ Nex Avwrre! LE_Sinalpen® BH tes the wv ‘pe od ‘bol! Be Ayea , werd work Moe He fey, wa teeat TEs pmahetei nec4 Cosa (2) Raadrel. oedar Te Oana (Soke awk “Biss Porat” (AR Ss 4 CER PRX, qed b Tone “yod’ (ey Si) 9 Ses Bue Roc ee ave QF) Civebar: — e mA B Sonsomew's faimas givor: Marinas roe rata ction an inueere, (cewstaert | Brig Ue Bae ke yo — % Stoke Sf eter Une = CYon) = ~ R/ . Bonsravid waain eatin AES Te is Anwaenth te valet Vive = Ged * At Yee qeiilian elk, TO yas Ye cer He eign CAINE mane be, GoSling’) Cin Kgue, Bi Net om quiet AC ove Te doum't pad te Ge umdremly conver te orig Nace tw lee cenvia avllg od eyai lore dyer bef rengeaty) (jer See te aka),@ Cofweb, sorotios by Connemers ef rlilornuine + Uswills, Cerotomir Jprefevtnuca ave Drutly that The Comvraivel ebhomranon Jd (edly te am Tetener Seluhen’ fe, Hae pent of tanginny, \wiur Te om Wondgck Vine Ves vottnia Hat Oemwnedthy Meee 5 Cermundnn wemouinse Fre Oyrowtity Of tacky aera Excokhevs’ > Woitts Conmen Test Te Ve Qrie of oe 4 Mee tute Cemendihts to dae Nigly Hed May f (Przpgy dt Bom poset sw the vuhewer Qemmodihy Mpote, Comer facinhen vais yeaukk, whine, Ye tenawer Lerowees wer auuambhy tf THe eaktwnee syed * Vt tee bas only x ued XN sw fenowe FC8 Concave ITC ® only, Thott Mag Ta oP 8 es ee WHLor tommedity a Coouner Wwe the rwwve Valuslsle The cormamedit lent 4 3x fe the consumer (unditely, ununell btlaicur > vishtes bahakon) oy eee Gelinas aw Poses Geratlemerts {ean = eye al Ser 601", aN Se yest ' wend aha),@ sDicewt cette score Comovengriens cuave “nwt eect” woman Sys in eons ace, fe Sd wa wot eh chung om ho wemtgg taste Tome effec 16 poste, vet Fin inter , ov gurd's coroumdption T Lyie-virm fea tferor apres) + Thome uenntunlption Gunite > Good 6 Taher: Po Secon , often Rivke that co (sobs cetinin. tonamrlghion Weed, eo aS Oo rveacdad, aq b bo WT 1 TONE ie “ eee Ged Wiese Sea + SA inkeregs effet tees “Vee fay a + Fee CIC Hh ENGEL's OE? Eygette eanpemiel wrke ahabich Soe awe iv Frade’ terouaalphiin, ede ca Hue intone chongts Cudaings Spree conttowtt)+ Re eoweh Hhadr ao MF, experdlue om Reed ether necegttren Vey watile Phar ery Manson ® Sy * ruen Crqgt's+ Trteme. Conpwondpon Cumve: da dann en (LYM) geod} ante @ + Exgebh Gwe co douuen em (Breame~ geek ones Tho, SErget's ume? tens whatealilp fo Income onc Gatmacdel- (onlage? Exgalss tuave Foe Wenn ayes ip Whewerd -alelarge; fer inbenor geeks th denurard Heipicg) @ Sopenrurion EFFECT Meas tre charge ine Ba of a geek Ane te ev cheng in 5 vwhative dpsce oblewe 5 tall Inet or level of fenblifachon, emininie constant CIme - vile ove, Waldiver centtok % seagate GM cee meee 8) 3 Sladsky Rewin on ene, Semnunihen untle. 2 Hiduan Gmleohitien epee Lost vinouuyion bundle” @ Nove, Awpee eu DRC is near bed Line In RACESIAN FoR MO LATER, Ue reuhaliee Ms Tin eal vote. OF Yue Conan due Te Te poe fall, and in Maes tat taper ant, tobe anna’ just cvengty Gneewe lak wtee pres) jae Hed Abe Coroumoy yemsana on The Rose TC oo (ele Cen mo Terman on ox feomtensAtiag AMATI? Note that aber backs a, tempene ntivgs weriaken, nes egmabhinsun ds at Waalle 7 ° Ho Moe fem gfe TS spend Vacant & Iraish inten egfedt + toa GaP Suliptinakon eftect live Mnrome efter) [s. alate reggae - (nelebve te pre a Nowe, PREC Comowedphien Cuane” Rates Rae selon tify bie te pre ho quot ch 1 Gy Walings Jpniee of ok pther avede, caved ae peenn niet , Colton“Pee effect’ com Be Lerten desen ante ov ‘mlaitabon elfe dt! Lolusays ~ve) and any “income epgect © C-ve bert pe chenge) for eral gyrate | ave for inQorioy aypvele) « Tous, whee He pte of & qed change, valor Sy ef the Good Niik,06 srwniva Cevntan Betends or the vahwe af the geod Bria set Suler® effect Tinvonne effect _Magnahae > Wermol apres ave “ee “we Ooms P Tnkenor gyro + -ve “ve ave (get vte) > Bitten goedat He! ae ae (se srey Tho, La of BewAND i yalid fev oli exote, extalpt tor Gilje gpede Cute seedy ave. soho wheter). CTs care te poly Ubly- fe We tme whan ov Camu Yh inihadliy howdy ov ving lange: Dyer ef Ws mune en awn interes gent) > SWUTSUN Galatitwdien effect Den ween of laut of dewondk yermina Broly Ae rae ao in Widow ene’ Differente cs trod alibe a ‘cementing undeken’ tn Hidlunem tone Lina Led Hye comnuined” sreunsin ory the pane. Fe}, Suddky suggets ov ‘cost chi ftereme compensation’ tru? exabitin the commamty re Brow on The, royce terouuighin wre, ou Vehove Thane, comauney Lan moe Te Weber EC Coven mney Wngemt as Belt consti, vndtead & wally | oo i Ride)e sBeogt of Shade * Weve dpmcheall awh Werte witha in pobeymalinge + Benak of Hida Statsky’s varinken fever combeweatte? The Cerouures, He vewllting imdaitinben efed & wt “puve’. Billorion abbveatbs bo boetter for Onaliygra eh Cermouner Jmunkine owl thar tenet, avd) romker Hidbs, we Reb Wil, cota; unler Stitsky, we eee hurcluonvage poorer / nto income Ce iant + Mothemmbeal veamen cf Shwitlay eqnaken need te Bed: Ae C4 Japs - Subabteien efeeer FU jy | Uy pete, Tae ok ce | wt fer ig aor ES toe 5 Wet ores de Of dewey on Brome Og Cefn) 2 That iene eect = 1» hed (22) 7 OO ae CL) (ee) \oueme effect abs i — Saba ween sso ate eect * “te Price effeed = [aulatitnben efgert) 4 CBntone ofgect) +Demand for Comblowevieng tr Subshture Gord Trotitterally y sruledirwkes avd tenbleweds weve enplsinel in femmes e& tetoh gwie efter Ces the venwalpt of essere eaten oh Lewaeal) > Sulydimites crassa ofheties ty XS wagearve poe, Se . sprite negtie + Houari Ap ROR! Nido Gund Wor He podittend denen ts filme Teteaure the sheng, Ob interme effect ven work the ecdvall veldvonbalp yehweuw 2 goecls fey exemble, tray A anh Y ave smbindtinte , am hye 3 pe > Substithen efect Lercle te Ton crmnunlphen ef ty km covouaaleon ef > 2 BR, rmceme effect wasqlt be Fre Lange HOF oreval efit Jpn, Qy T . Treditent aphroads. bveve. wand ove os belie thot” KEN Ove Comimerttony, stvichy ka wet Trt is eure catumpe Thus, Rid ford Ryd fulatitaebity er uemklemorestity ble 2 Sorts vast be dended rebel en the bare ef Hae preteen affect wate feck ty lee. ekivwriwedteat lex woking Lemp wanting Vanhen fn interne after the Ape chareg- @ remennr Aecendivgs 42 The olore meted, Ong 2 eds will alavonys Ve ardorties) Thus, 2 wrdentannd He tee velatensbelp Wid 2 quede, we neck ato Bopnde on ote. Leaks ance Wor the 3% gpk weneg (ie, The conouumey dacim't ntsernoatty Terume ob a be ineeme ~ Wve wear Wb ene poowe of ibe Ta dia beevone tNis sulabivte fer 4 TE dhe MARS Oh W fee meneay t6 Ainwwisred volvey X iS sulstinted for mene in sade o vey pre an te" Lent fre corrower” we Letier off Han elort te, ARE a vembewiebing, UEBAKEN Sn intowe 5 wede) ARS y, DA KRY one comblernnts True, wolile aoltinke can ecu tn he Cane of. 2 opende, combleansne worn orb east in the thd cane - @ ComPensMED Demand cubye = Gredinanys demand curuer derealie the tral {pric afteck (salehivkien + Yrurme)) temptranted dewmamd acute emanate He effec ovby of the andthtaben elfed + Mery om orcliveny da time, ented intemt bo held cenvtanks along, ov combensote dewonk came, veal ivtene us Weld comin (© Cenigencoted Aemond coms awe mere aginopricke fox mtaawshyas vorouaner suntan) ( pemempen® + Ondirwny demand une eee Goren Gop) awe Sater Yan tembewnted conn Ut THeb Pau effect for nomd gorda > wee Ditton cffese aliens). Soy, tied pou fo) wees te & Bless in CS brewed en ovbivoy dd = rea hon oN Condy dds Boer BG » Dena” Demy 3 gg needs, orks ” Wend $e tundar efKwoben vf Veae Qa for inbenow ones)8 CMMTER Ios MARSHALL CARDINAL) WIS TC Anmuysts. @® Sumuparres: (H Bee pscume weir cent Whe Warinnge WnWhe ” Le Manshalll’s eeu Wonun tendition MU/pa> Mszpy E Bom) Hicks! 56) condition (Mismy Phy) Norns Seep (E> Belly assune trve town of dimamelaver ublitys (hiwrmslns MRS (5 On ivnlpevemerd-erert ee nivale ten MenehaGhiom lowe of Ainimashings wergprall wibidg), B wstet Le AAS YON OVER MARSHAL (Assumes grivell ving, not cordival (BH dourit ascwme Comes wramygaall wblinys Ok were (BD Eapites Gigten qpnde care — genie ivwighet Jake Iori elfed (4) Doem!t ossuwe fred indaidual ublihes ave mdefenledt foddinve, A ceteem ef Le alpendss (H tardive ublity 6s owklicet: Hew 42 mesma MES 0 /e ua 20g 2 {er Strang, asscupthon hed connuwer Jpreterenite ove debimed over he embve pore of oweitalite oundler.SRATERM: —APPUCATIONS OF THRIEEERENCE CURVES + SaBabas? Rralage @y Pre Sulmdy Usher tet The cobte the oemmment encecde he Swen egnwabant” tor fees cenmanes) (es foe teree caventnd ) (by Luks ineewe gure (Hat has th ‘hela coke, Hoe conmuanere WN owned be bebe oof thew bn The cee of fa pubsady, bet &, 8 Cerwin meladively User feed + Give gushQrosiors fervs). + RironGs Unie Tec, Alrew te otlursing tae (es Bath. age Commedition ave leting, aeliorel; Dede Lent as pach tet AiG wet bearings Ror citer comenedity. (WY Beretinge for fe) Bredivas fin Y + Zune Lewvee cao @)_ Sachusard - Bewslivy benji cur of Loloco” (WI Brew diragrmnnnedientye He n€al Ber a Tagen “event ' yoxey tele, 9 DikRevembiobe betveen Hye effects af ov feea- Sahay Iprgrrsicnine vette fet ch a lly opent * + Irdlyge. the welfave offede of- dhivedh awd Grulind fauness bach, ere dn er UP Ake parame amour te event a ty Ge amet) aad wing 2@ INete! An iwhestowt Yor fo wate in alll of The above is trod oye apowertom’att Jpeliys Haat wneses wats velative: Soi wit le inferior 4 one thor Asem't change velative Jonven ” Thin to Wecause ipolrete that chamye vellstive Jpvicee Wave Com induwd Srubobtohen effect fn maditien fe the Weert. eect, dunk tro bo adver ehged ow welQawe -CHAPTER IZ: REVEALED PREFERENCE THEORY, aw dar, weve meen tthe Fotto wings alproades ter deterwwivatien of He our of demand: = Mewshal's Cardinal, Wility thee sy = Rid Mign Trchtbwine wuts omobipio Given teak The Te oippamde, tuemgle aun imipynemad ovey Maysralll, URN Ver ver TAG ossumitions , Sommdioen devised The Ke they fo edtobtisty He law of Demand: 2 odvartrogen — Drem't reawie Tes to entalbbisl lar ef demand, — Lom Whi) HRD un theoreticalDy. dea the brake of Tos Commie te emtge) rrethhey ‘thaw areas LY Lao iin Hida ~ ALOR) sAissorattienls: Comunoy Jpmtorenus awe ~ Caviorall Cnt te Jpvetewsed to Les) — Conmotnt (A7B * BA) Trews tie Ginn Yue, Me [Paveted eerste Veyptnesl] rifokes Weak og Shemingy ow ceklation af Byrd in om give lord pitwathion, He Cenaumiy Sreveste? Vio Jpvefevone. for that Jportiwinw exthachon Tru vtuealled Jertorenie fev ov spathenlany catlaetion of gerbe Jenblits Conemadcalily) the marindaadiony of The Umoumen's WALI» . came Cenatder Hat initisl twdget line Je BB. New, el 4 new dyer me is Ae(Using "WARP. B To pre: Betty Joo, neva bundle Onn will be rade tok O47 we Drm ter thes tpsue dtp, dr comtyenontings Noratien’ ty thvdiy Abe peuloatitwiien akfecr Now, Hat: Combewaated Terdgat Line ie ED. Given that SB’ wan elrostn volun all ruvdlte or EE weve awoilafste (: EF Wee below AB), % is ‘veweabed pvegerved! Te ald Wurdito on ET. Tru, the conway unil, dure Te babii mnen efter, Grauane freeewitine om Te Jpevtionw BD. BOD x ett, Totoslormbivgy ineeme efter Lama assumivas ov were egad) we Camry ned early, the if tomousntn” commana Swim the Uewipemanted Fevdlger Ure, ne wit wien Genouunes Cutan furtiow te te mgt wo Thue, Ax coding T feo nermnl aracd eC bed % Demand tue in deeramnd repay - From the Sir we tam ‘paar that Tee wll Ge uonven fo” eri Waits rncuurine Uwdggh (iets Huet hp’ olsere owed Vela %, Je ware don fhe Iprfenseal bundles: Resubbings Te will OO donee: T 7 + com We rirmaifit tne ABC AE vclatea) + toent We contate ORG vinteed) .» Comave : > Positivisy — Give wh the [rather Hhreng’) iblitg- revmivitives portrwlete- — Poondine Hae ansumbtion of Sceviinity?, thal the eemoumer A alte: te anak oll Wer permite Cenbsivatins ef aeode — Eetabltstan, ether Ham anouenes, Cements Bf ECs © > Negtivte: — Somuntbvor’s ruldimiien etteck, Like Sluisly’s, Overcompesedte the crower = Comvet umunt for Gilfens Paradores CHARTER V4! ELASTICITY OF DEMAND ‘Toys: > Reve elostiatye of dewand closed ep 74; Inelastic o Oped. + Mudlpoiak maettwed Carty needed? pee Pe 222) * Op ark change in total exjondiitue: egrt 2 et on ey) yesh (Teo a boy OE EAE IN) + Weemwement of op of ov peivik en The demand ene: = Umea, 2 KLewer satrnen Lame AQ demand cane ee Keve Seager) WZ son Uniiath demand uve Draws a tage tw thee dd aysve othe neha peinh, eps owner ica Aree ) Mee. omg Ne ee (OA) - T bd BS > Less price elosheins of Aewand’ Tp, genoa lowes, We bay Prot if bros peste, elashinty, € 2 pode ka spose, Bron Hour Gare comnglemants yond Uf He, trex ave rvbetiinie (fF ALB ove prdiiitatte, then 00 fat, Ua wil b cad ah witht), HOWEVER , valde we cam We pruves Hak rue ae? jlpiete Joubatitebs , we Loot be uve thot me ee nett trai He oyemda owe. Comaplemords.Tris is Because The cnss- pute elowticity 8 Gael on the TAL PRE ERECT | ositavt Comoro ong, fer te change, im inuenne « Te tre derermraine, Cemphamintoritiy,, yet oly need te temaider “the prulvi tation effec” Ubwk frie io eonbincallly wet” perilote) 2 Tne Etasrst4 0F DEMAND: + Gowda having beamine Bay owe iiferler apace + Goods wrth eq 7d ove cabled “usurrits’ awe eget, Mecenities! * yy in teeme Of expenditure, peaenditint: ows (AaB) 7 (S92 *B)> (26.2 xo Brew Hak witty Trvame elowhity of om ayped evoko tre, sreaiprorl tt. Rathedion, Of doncuwnin's ineeene taeuk en ov oserdy hon the wbale of fee Tin a Cenpumithls interne sill We sherk om te Din arambitye ppuirchwoel of that gerd Yenef: Gay, Kae ers) Upnpottin wort en €). Now, ems (ed 4am) Pssunt Her eine fin M Jo fon m %. Then, aes AM UE Pn is ame) mew Md = Vey 9 fee not abun on tee Ered Gut Th Ege eyne stm eo ede, demand mole X- Onis te tee igre of engin, Tron meh, ond yt Cane tangeds on cane of nan Viner Erapl eval 7 Cemmeaity Sb a wecenvity@ + The frum, as Sntewe elacheitite Ser ott Gerke in cmroumnens Gonousnighior, bundle Cakes Sumbous) row (se tnt > swe euasteaty of sussrironon: ests {7 change ivy ommon of Leet) (Z cramge in MRS an) * Tru, dn a neladie meomme of Hae pubotitatien effedks Whbn i Ye Aikgiwdt te rubrete ene gord Gar awtinr, Sead change on the Jpmberten of the 2 gonde will lead to Linge change, in He MAS, ome vice vera,» * for peed vamiplements, &g + 0 + Pre closhuity Lee), is in a weg ow cowniprenace ‘ Tyekweeny Onn, turds eg See [en em + LM n) es], where bat brobettion of. the terdanayn inlet ser en ack %CMBPTER 15: ConsomeR SuRPLUS + Moyshall’s detimitiont Mons, wedked with the assumption trod ublity ve edi rally wrest; overs He MU wae ommuvedh Centred, Yre wily dewived Aer ov aed covdd We rneamureh Bio Werwy gol, te te oma of werent Comoumer Srurdguan, Wren , vsoe bimiply the deftevunt Whur he, Jona. trol fy crrouwey in whinge Te be ord wha he oehvallly pou” Kmu = (Reve Nos ef unite Jpur daaned!) a use g os Hovey, givers That Hla opin ossuures Mem. cmotont MUM, Ride diseadiyad ir, and >a phowd 0S using TCs: Gaem bvdiet Sire NL) Ueneumeer Cnouuned OF peer HW! Crete, Her doodle is warts Hoan Gorey Mfr G, unig. Nee, tender Toy, tay porte Havana Me For Gonnuminiy Oyvanhby Go, We cow ste Haak He ovo weal witty Thule, tewouunty fouripluy = TK (ie-mt), fy we BE cre ots) y ’ Were! Hideo OS = Marillion 6S (2e is Marglalllion,’ omaumes condjah MOQ 4 Elo 1S “were ovate! Ae Bea,& Hidvianw LO LOC), en the etey ham, onourms diminishing MOM See Foy Hideion omeek’s of 08 tates, IE yew howe the tien):CHMTER IG: Theoty oF PRopuction - ReToens vO A VARIABLE Frere, + SrA Oo Aprduct dake vpen ite ot of Jperturion, uae in aw Adela en? — Rrmdadtien Rumekion 7 Carte of re Fuckers Of production + Sher Puy: Atlant: ome foetor of pwtuction is fred; Jpmetuthion Gn ely Be T by % enbplrymart of the Varrobte Toutoy , wtaidh im definitely srilyect He diminiatingy reruns Claus vornelile Spvetpertions') 2 Sika; diminishing, atttme Covnalit) nes net Se A en a Nt ARLE slope of Line wonmectiviy dpaiet ty oxigen MPL™ stoke of tangent at pei Grtpt clastiiny, of iwpat, Eye (hae /ya.) > ES e(z) alt= hs, ae, 4 > Dintwiolings rhuawe usill when Eo etn tale HY * eh Bore oobi. ebay he VF, there + TRE 3 ARGES OF Paepuenion: fssoming ONE ERED Facto, wren Jpreduckion pois, tHe varie, fadoy yoill Let Gn pnd lananese- wAbotive te the ined facto trot of awe of fhe fred oder de remeved, he ON of the warialivle, fnetey com Te Tn the Sash sshage, tat, UL being voriolbete Rocker ) Je toe a.& + sig (7 aetemo) 7 THE, ELT Metta oe T= ve 5 Uneconomicol + Singg.2+: Wb horn) » (MPG but >2) , FW Tibet oF aw mite PB Tor paicle Ualrter nelisiie te 2 Bred fron, Me so 4 TRY Trua, ovuy vate Jerre wil) pyrduce \ rlag in STROE Ry yaheot + O Maced tage 72 (arate foater 70) bE Mg Tuus, IN CASE OF ATLEAET ONE FIXED FAcmh, Jpreduchion wit poly Tole Yaw in the Secenewvic. sagen of Jpveduchen’ (Simgg. 21), wheae, MILL APL owe Wetly falling. Civittin this vein, the acho. pei AR Apveduchion yeitl We determined by the oath foters) - The_jmgerttante of Osawmivar thar factors ave idivieaike aed Soyofeat_fwinintts for ends ote: Th the Bined Fader woe Jperfeatty divin'bhe, Hf covid be eurlbegg on A Ayenhty algapviote te ome trad MRS ner Tin Sige + ~ th the Vorolste. factor weve, pemerty disete jee, Med wend wet abby utter, be aur of Namal, pveberitrs uymalddiT hath = Ta sums divesting eran To tre Verrolilit fete aly, Oteauat The furore ove wat’ bested Alorntdtes fer andy oftenCAMTER NAT PRopuerion FUNCTION WAH Tivo VAEIABIE INPUTS: + Deegan: “Borde! af LRU feat cam Le used te Praduce OF ap vine Veral e€ rmtuck ( "Prmduckon Tralifteverte Cute’) s MATS: Nes af wamith of mapitol urtide tom be meblnctd by ene. uunit of Lalor fo ee the level. of evita umchengea wars MPeymmeu | Pref: Edlers Them tote thar if eadd Roce is pad os MP, then Ave tela pedacr usilt be ‘enlnausted’ 5 fe, > (DL MR 8 ARE AL. BIR e au, On te sane isoqvent ,Ag+0 2 AENRL OUR (Ou)? ~("%ans) ov [MBL = Myint, Cee) (Bouya owe camer to Hee origin - veprenen diminiching MATS) Ce, gpvinaily, bulls couse fers one iwberfedr anbidtinnte dev code aver ners. oon Mera, th pect, Jpegemiely Wander te folviitnte ene Sandor Que ousther), (lms by Seve * Sized awd varhalate, Retedion Pyduchow funesino Toga nelroeuct Valls pon Fs for ef oblaettongs fen (ie an eds, WL unid ivy Hiri, Saed Aebettiow, ioqvets Se wold (ook, Libe: L oe+ Gosp-Dougus PE: Ys ALL — Popular teecaune ~ bm conly incoderrohe fined, Rev ¥ stu te sulle = Cin Rang extend 12 inlowperote nuliiple Sacdres (Actua NE ew) — Eom te ewbivialy eatiewde; jurdt tebe ley | Clog 4s leg A+ toy Lp leg HY + Tn Gob -Dogfan BE, elasheidy of bubyhinken OB Emirs & 1 , a cos = LY sme "OLY crane in mes.y) ey. OM sey { Notre vbscript eos Lr) “Zo ie: 1) Mig ee) adrne © re mes 4. cheaily, «2 eos (Cntetionte tn facts Sem ‘ Qovperierate chao in MRT) <(eeb: chavge iw Slobe € zvaye te 2 paints) (Rp Tangent damon tor Teeuyans of Hose 2 bpetete) « + Tn ynteviu, MATS = (1D 7 oe, ] Relntionabaip Wear cope A Ue) a) ees and foray dpc Be [ors * RETR tes wreammes the tummohve Boom Shogo ~ fnew tag? of ae wndotiivte me Lauer for the otter.Qian Thad the fcters of Jprausion auve ieibefed trubyitate, ofter a, vatwile, Tots svangiral. Syredudt of one eb the Jouors tue negate Oneeling eter Kocher Fined). After Huw lpeivd, loot. fours with need to be T te heel Yeduton Od ae foome Level» Gives thot the: tout. level ef erie cm Jpattudilly- We cbreducad oF 0 Lesson cast (lng uring ov ware slptinal vendinaion tor omypine Lesser ayant of beth aseds) Hb wiles war tie te Jpserue, ia the eagene \styerd the RAGE Links, Wide pra Tht crtvennitte ef the Tes fwd tha MATE Ufo the Roulwrs 16 peaytve, Thus, Cronene rapier BF preduchion Se ayivew ly the cromge, Of Tes whee MATS 1s ragettve + * Rervans ro sume: Tr ig imped 16 diftevent ate lbelwtew ‘ret hen! dd Soale fw 4 Saw Beale, emeane hth al inputs tor faker untah in ov Apmduchion. yrrven ave Tin Hit fone pvegelion, Prony tre Lines ST amd Hy, fhe qromtiy of ore Gooey is Faod (im ST, Lin Ha), i wile, Hed of the sthar Uromgs 8 housing ~~ Seroe Jprapottone - Mange Linas 0,08, 08 okey 7 Yipes twain Risa; beable, changes,nO SE ES Condraet Cetuano Devecaringy Retvew Pent | Betas seca a Reduce) * Ralabioelap between ~rehwme jar peolle and wongiral Jprductivity of a dangle, foster Cneclings the ether factor Gined)) = — Corehront Rete ter Beake> Magy anil YO name af the vor bas loch — Darrennings Ceti ty forle: MPye wii! U rabedly — Necrenringy Getwenn MR ye wotlk HAM Y, wale in the unlileely euwat Hut 1 eres fo atae, one be Jahengy thot toy efeer tet laur of varrabble. Jretportions * Eyam ef omic RS PAs with different €08 >! cess coy Same in MASE O 8 Centon west 4 Cas otek) EERE. By cose 9% chroma Bahr =o 9 fines progenies PF B (Ye wave Caik, hu), bose de (B ereetermntent> 3 NE WWALE) Ltolte-Dngian)@ oMarreR 201 OPTIMIM FACTOR comeniArion! Se fon, wale tom Thott ditttvent uembinabions af nts can Ue sed ter pwede ov fpvis Veweh of enttovit Ter deter mine urtvidy ore Of Thee wang, Gudea witl 2 sen, ux inkrmdue the 'Ssocost tise’ dar ou Coralia | % > Pesuniegy Sete prices ome aver Cur on ¥), + Eabvebrentu com dade Hui he wont te perduce. oy Vath ob entpat hen waite ants Ure, fram Aseqyont, than dwese tavysnbell iseust ine) + Ptencntndly, in cont Hraes a. velgat conttraidt, he com Qin the ie Une U+ bwket umitrmivt) avd Chase The Wvigisaat isognowd” poser - o te Mere Tn either tne, egwilioduun canddtiont MiISyg = MAS * + GxPanwon Pam: [Mic men on the “sive Line?) sania thot “Ewe Jpn crtanainy tre Prout Cor oxrtantt Myr) dacnt Chomye & Jpralptrion Hh fatto Svivo deem’ T clvonge) | ered Had wammsg ds wet ov conraunk, Hae, Urbain paths peo the leap of the Ipsinte allergy, rtaich Aedes hl eepend erkpie Coa. Are Wren of Hoe priv of tomgcauy Lrfue Levon vondts ouch sates Line), . fay Godoy Jpricen ove rirwdiod win the wmnal: Sraietitution, Qua tome ebfert Lretalidonnn, called re Vented efteat! have*Conbiowantone Gautors: hen o abd im tre Jaw af one of the 2 Loutoo Sauoee on Tn oypamting. bunchoed ef {ytth focore, they aye, food to ve corabamentiarny. « 2 Fotos X od ane. rubrstitvien Hf the ubntiieen eect en of he change, in aie of A la gpwater trom tise evden affect Det Ares * Expancnon PATH OF TRE Linch HomogENfous Phapoction Fonction» lina Weromggmans PR = TE wa) uate wrehumwe te peale - Tn cane of mun PF, eatpamrion Rote ip alumyg, 0. Htreigint Sine Hora the orien: CPrme univgs Cabolr-devglon fF.)@ CHARTER 21° Com ANANSI + Laxtr_fomdtions Given thre frutor prige anil the Hine of technology, awd Carauuwiiene Thad the fram uote Tat (eon eat cembsinaions Of inipvke to produce ov asvin level of omtterts the atk fumckin, datemumes te ott rawr yy oe Gore tw dpreducings ov apiven, Level of ont: + Dieone lis Technsleggial: anal Cente Bsuionig 7 Tee fticionig mreane wits os astm gat of ily te atetorenine Fhe onium fornble euthyt” Uneg: hele inipnit: PUL ise nants tae trltuve tedbwvicallly ebfr uit tnumclleg Regnard’ Muti enaane 1 acti eniniend Bini ah Cor a Gye Wwe of ovat, ox waning eutprl fer a ayivon Level eb weit + Tes ott: Apert eo = Prteortingy ath ~ Bamamie unk (> fressunbing: cats + Twnblidt caste Uitte yer om taigital , anbeprueuils Jpewwal Spepy a) * Sheth fe Verg Run cart Gachora: — SREP: Gem fates awe Bined Linctashe mappa OF Srewve faces) = ULE: PAL Boutos awe umralebe (elem triply of alt fretex) © Sheft Pum arclyaia: Und can be fala wy inter: ~ Bed ea ~ Norodke cots+ Lemme 7 Aves (M7 RR — mee bony : BY pre TT TEC is Gtk negakers : ‘ a womtity, nee (= Ta) will eowertidy Lao 6% = Bikers that maces Ovay = Ma) > # Uva) . 4 Loe, Aue te inveaeag arated 18 Ring «fad! ch camable, fact) , oad “2 APL will Cattell Toma than b (doe tr Laur ef worialolie, rtitions) Ave with (ortnallliy bcd Hain T° wot Ares (Reet Ave) Me unl olne be U-shaped, bdr The Vtovewirgs” Josie sith We vended of a arombity Leyord The tuemige Joint of ANE Compan Jpeieds Qo amd §) — Miah wt? MGW e(TEn= Tena) ov Mer ATC. ° a mes (ope TET, 9 mer (OP /a) Swen Me a alse U-shaped. Note tho Me with Ue Belew Hie ATE Che) awe whury At cue foiling, ana abe tre Ae cumne wham if 1s ming ME cure voll Hous tort’ the Ac ewsut Aremn Welw’ ok the Lower point of Re aowe- 9 [Tne is cyak te Ae ot e's inten Spit]@ + hog Cun tests: The Ube rebrsends only a Prong HoRiten | Wrewoot, wteneralser freer ofl prrdsetion in ne in The thet aun during, vitwide “the Figo Of the punt ie red Th the UB, the Siren on the efron of Nomyiney te plant ig + 7) ain 00 paulo ett run caves ave Jornlste, UL Pre enue in ystinings boat fhe Loc ef alh the Famgunig. potuls & AERC We! Vamos LCS Nove: that is NET forged te the wininaum poids of SAAcs whi, Ubfre 5 Heb TG mM ae fois bof cares, oad wie-viner (Gee P. 08~ fay oo) Ea Jest wlan Soca gms be Poa mie Gi on tame he ifort GRE wm in Hu + Ure in case of conta” rae te hate tee Worwogertous bedac® fumchien! WM CBS, piven Hoe cbries of Tnpets, auyaat tah ber wat DE gett rewaise the feat Cthee ove wer okt eumennite or Aisecenennto of vale Gov amar vomge Of evitbub) Thue, Lie i o a a) & Endpiatallly | wang Hhvdita base Found oy bance srbobed tre: LL Te, ivalplita Hyak Cemenniea of frealle One erhawsted of ov vor yard et pele of ehemntion , andl thon for on nelatnely, lange Sitter exfavn en in ontyut | diseeonenvta dtr wet eect - “Thott balpyend oly agree ov tay Wnge Toon ewkput:AF NYNIMUM, EFFICIENT SCME? “Th 1S the leek of entpnt oF winds tne Leng. Lun Reroraye, Good is mainirntam: Alka Hae Seotimum trige? af toe fim UWiete: tot Ant 's o wetive SAC Hut tire coregende te). we LMC come? Bs can bbe mean, the Line cue ob Bede thom Hoe SMe cues (Ray oatention te ewer Ht v6 dewsved Ream nes) Thos, Evetd forer oF ° THE Linc: cbhestonps Te Some PowT on An Sime. HA Run Cort ome tan ie early dewved fren Hie * Exfomnim Pate! Crow? see @ sis) HF NGE! ‘Tatonll’ om ‘extenull! eummennica of pealle cum veng- dienes. How? Tile). External tenonieo aye wat determined typ the outione om eedioidual Green: They ally te the indus ao ov whabe 5 a0 the iwoluting, enlpamala 145 prrdudion « Gone innlgeltadt tousen: — Unyer woktwals ows wigital egiprmnak — Teewologial eatermnall ceenmics — Dewlerimant of pl ted alow = Gmatin of prnbichlomy onal tov inked Unakawire, - Trapreveh Trempovrorisn ow weedbetives fee letiee& FUER mane com Hrnvericaldy ole sarmsattly deckine COR veel cevototert eumwermics of beale). This om Apetenbiallly, Wo the wowth of = Rrduchon (Technical ecomemiee Namen Wry Doing” Vraypetiaia of Aaveur FB ayederatie Colt Functions a gtvinalliy usta usam we wank to wry with U-muyel tet aurea: (Te = atbg reg*rda?) % Metiunadical Aevicuihen af betre Ung7 Rum tot funchien! ‘Leer Lemnthon’ is he yal onc Wed CQ, bmnda thal factors axe hosen to ewnme that He dian 6 is 12 od winionuin © LOX oe 8 Ryyavalendey , the avin © do rte ot reo rane BY for, Oe Geert) Pawns awh =A L™ UP (doy). Pentel Jo te ere & intone of 8. we \uwer tral in etn gmtvahon, MES as Mary Ca 4\- Hoe will give ua ov veh” bles fours be Year (pnven = Tat tam thon, ue feborStred fate the predation Fane” te clotain LL om fumehne ef 8: Wr palette Hrent inte 6, fr get C00 % RameBim ofBS MALLET srRucrUbEs AND eontetTs OF REVENUE FoR A FIRM [enneme 244) serene ter Seer Cnsefunion of wader Hrmnchuvs Jn urvedlly dent en 3 fedoys? QD Nuwdber of firme Jorduuryy ov Jpwdudr in Hae manbet G8) Netw ot Jeeta Jpreduved by Shines C hemageneewe/difPeenbok el) (Bi) Cone of entry amd exit Of fame from Hae watt Ubddivoral fotos? Ge) Brie eloviaty devrand foe om indinidul frm GW) Degree RB eontvet over pir) + Gelakiontlp Ufo Th Ab and Mh ewute! The EMAL Crteve) THT other MR iS beritive | is nowiwited when MRLO = Wn MR DAR ART, de vice -vire + 2p, TR omnd MRE Win Atwmaad ia uuitany edaitic Lege t) av given ft Fall in trie CP) Jo thane by am etal J.T in the ayambty demanded aud tru the TR vewaiws uncbamged Tp ep 7d, THT he Pd Comd vv) Coweta: for a Unter demarcl uvwe, Dh io sve inthe yang ot. the demand cwur aber tre wehd-boruak , ont ftp > 4. om ML do ave ele “Kre wid-pover whe [ed + Ub avin 1 Pree onby of fem 4 ivan tibia A, Dprica de BN te ceeneenle wwtis Jpnttte . Cendi-tiont [Pe sce Ae} 8 Ta tne Sty the ier woilh cmmtinue pvedingy Quem If i is wobbling Vasses, ob long ow He nunc bute te emmgle te caver the, Rms werdable, tasty. Thue, ine Sh hun, ONL THE PART oF THE te CORNE HINA LES ABOVE THE Aug. VARIBBLE Cosy FORMS THE SHORT RUN SORTA wwRVE oF THE Flan. * MOTE, The Sh porbiiy eunne OR He PC induaty, la ity ebtrived tog the Noktral prumain of SEL lhl cuits ef alll indiosdunl free Ciesomma ted in Ane GR, the pinubtamame ecpaurien et evibud byOBL the fame mit Ces enipamion of indy ope) unl boxe ner Aer on Aoator peices of ingle 1:8, Onouminnge hod Hey the ical vwetke , frie veoeunete/ i deste in We Sf.) “* menses oe ey, oe Me OD. > Coat oom LAE mic) dan h meve, woeiva © UR Dibusttd apatite tenditiona: Ty UL 98 2 DA Yor heeds rend We in eq ailitntaun, i) for enol Sem, fe LEE LAE Lote ae) res ak wabivdg ii) The in ne tondomiy tewourds onbas of tit. Ce sym: AL ok the olbove ounabayrs Ja leant ery Hee ormuunlprion Pook OD Rremeo hwe dank wl cost sthnchine «Jn cane Roem pave, AQerontal cot wtmndwwa, io Wee 42, trove tam le Came webs \ewtes, pe, or sult Unrealiingy ns Tr the Ub ewer, wer fom raalinly Losses will tng to “Hae wae « Thus, ewiditetuir oonditione: = Pome br all Bere — Pe Re ok the mrongiead Keon + (Thus, doe Bam Cotte Unstr ced Mhmkwatd) will wale, Cemasm'e Jet's over awh aliwe their Unamer earnings! (tee owe twenerated wertton The ceft come); tere Gato. eronemie dpvefi ty owe calle RENT’). Sop avon Sect ares, tt dedel + Ecos eh iaunug of PO woliats> 26 waduds raat in abate, y scion As, Hiatal eal, unt Of mrmte Rot Agredachen Of ayoute thet eumuita wat mie walhone Lanett te beagle ino bosiehyFrom The raity's viewtpont, TRtRL welfare + (Grower Sundplus + Prrdaver Sunlplus)) Tals is worsiwarel wrdor He anawithy determined tye Peleus Cenbetihen Long. RUN SORRY CORVE OF THE GoMPeTITINE INDUSTAY Wailea in Me Ghetto ease, Hoe LL Sukhi crue Of am deduintns Commoat lve estained ly hetental Inummation ef wd dash Rama! footy eta, Thin din Veeaust for ov tembehitve fram umer Uangba, tayalilniam, thee ta ov wrique Rank of wnthnt amd Jie, arbre, Qa vines wwin- tbe) (Tha Leen. CU) umditon enmuns Hat Hoe Fon peas, ty tne iva tn Hae LE eva ip Hi wabinge Aiee Cierny) Now, lerg~ sur velotinbil Ela @ oma R for the Inurl Arti, WSN Anke gn whut Wlfoum fer Hae cavt- apts Of Rows im the Fwoahy a0 wire de nite evlbut ie demanded: TE trove ave deoreasvg: neti te bute, UY cot), Mes ne ah ee Mai: fe as, stevia, fe pede ene \ Meiners ok for store I Ae alk tae om Ss Sopa! EER Pe Ra (tanta wera prusmweltirs Of ivedinidal Gro” Jnbily, ewiite conve” We dove Tr tenia industy LAS cua? W fer vedlinduals Reo, Noe, US eum dn ely © miegle Joirk (Not the tae, UNG ewe Bex that Bonn) @ Ne of Fem om LE vem ot dite bret / diQeent Aewand yonkers © eee 1 Hee eatin of ts Getty cok owes FANE Some Mott due ty eatvonal ecowwnvien oy did Cumrenito of peal,* Stow Hor Undine Perfect Comipedtion, the urtatte, burden ef. oie ie cake tauoth by Ode im pat eh indy, an te be leone by: He _gQtrostite in Howwa of Wighur Jpnce Hoe Jpaduct Hat thay haat 48 pay, - $ comectens ‘ afoot a eta SOR wa oy wae (ep) a aren Unbis Pe CE Bee cnslurty) = 3 ‘uenbiem! Ber Leg Fan enone ta Pc? = tame hes Abewe Sant have Hue Jeune uote Miraahune = Tr leh meme Gu PL wereld ‘eff cast! 7 Dipaenie bes Wo She ain Gye pnp fly Guuueo werden fucjeak Lombetiwin, Geel A reaene wlng thet Jolieanins ume8 CHAPTER. Bol EXISTENCE AND StRiLiTy oF E@oUBRUM UNbEF. PERFECT Comgerment EAST ENE OF EA UIBRotns, Teg We corte whene denencd infeed awk irvilly ome der ek "beet or oot cpetine Spree evtipat tewbsivahon 2 Parteulhr canto e (oo Guedo tes ont He exhewsive tr Ypruce, ae that suet cae an omenyestare alimertine deinen | ‘ Da wwe 5 dade geeds are wot Jorrdaced ook oll, o oe ama tas fe Vln decent east Ye oa Se [Wo Ever gpede! Gteds Jomdls oa aie ave preoeut iv Frade longe oyrambines Vor the mangsnal enh Oh trlplauge Tem oiler gene, ay in Ovi é 3% wwe, tahvemelay trod Ne okeyerion of bd k Ss cummin hus wer equibitrine CL se 6 ab Mourne Caostiay a ae a. Sa ° 6 é rN Th Gore pul on bochurmed (gorau faoilply, come ef albert, Here engl et eninvr ov ume eguilalenivam F STMT OF EQUILIBRIUM! 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