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Unformatted text preview: produce and offer to sell five hamburgers when the price is $2 each. Five is the
quantity supplied at this price. As you work
your way through this chapter, you will see
why it is important to know the difference
between supply and quantity supplied. buy, and therefore pay for, niceness
not with the currency of dollars and
cents but with the currency of niceness. In other words, the nicer they
are to you, the more they are paying
you to be nice to them.
Suppose a person can pay three
prices of niceness: the very-nice
price (high price), the moderately
nice price, and the little-nice price
(low price). Now consider two persons, Caprioli and Turen. Caprioli
pays you the very-nice price, and
Turen pays you the little-nice price.
Will you be nicer to Caprioli, who
pays you the higher price, or to
Turen, who pays you the lower price?
If you answer that you will be
nicer to Caprioli, you are admitting
that you will supply a greater quantity of niceness to the person who
pays you more to be nice. You have
found the law of supply in your
behavior. Again, you are nicer to
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- Winter '14