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Define the natural price by Adam Smith

In words of Adam Smith, who theorized that the “natural price” of a good based most directly upon the: (1) wage rate and the relative amount of labor required to produce the good. (2) greater of the value of the good “in use” and the value of the good “in exchange”. (3) usefulness of the good in fulfilling human desires. (4) sum of the intrinsic and extrinsic values of the good. (5) long run demand for the good.

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