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the people i you get the total welfare of every single person,
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the economy's total welfare.
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I'm now about to prove--but it should be obvious--that total
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welfare is maximized at that equilibrium that you actually
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found in class, almost.
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There was just one tiny,tiny deviation from the theory.
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Nobody made a mistake,by the way.
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I think I mentioned this many times.
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I've done this experiment before and Mr.
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12 gets so upset that he can't buy any ticket and he's standing
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there embarrassed that everyone else has traded and he's still
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sitting there with no football ticket--