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Individuals and firms do not set prices

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Geddit? As an economist talking to non-economists, this has been the single most difficult fact to explain.

This is from Timothy Taylor's 'Principles of Economics' lecture series on video. Click the link and check the list - he is a big success on the web, and - though his speaking style is a tad bit overstated - I really like this guy!

If you clicked on the link and are perplexed, this may help explain things.

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