Microeconomics complexity of the creation of the pencil.
Please read the following article. It is about the complexity of the creation of the pencil.
https://www.econlib.org/library/Essays/rdPncl.html?chapter_num=2#book-reader
Some things you could think about:
Compare this article to the discussion in Chapter 7 about how prices convey information and incentives. What is the connection?
Why is the creation of the pencil so extraordinary? It is just a pencil, right?
Why would it be hard to centrally direct the creation of pencils? Or of another good?
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