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There'll be two more classes about this.
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So I'm recapitulating all that you have to know for the
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purposes of this class from introductory economics and intermediate economics.
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So anything you have to know,
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you will hear these two classes
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and some of you will find it's incomprehensible,
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and so that's one good reason for doing it now.
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You find out right at the beginning whether it's too complicated to bother with.
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So anyway, I'm going to keep going now to extend the model.
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So the biggest advance, the next advance,
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sort of, which was related to this is Adam Smith said,
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"How could it be that water which is so valuable has such a low price,