Why perfectly competitive firm marginal revenue exceeds

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Q. Suppose GDP is $8 trillion, taxes are $1.5 trillion, private saving is $0.5 trillion, and public saving is $0.2 trillion. Assuming this economy is closed calculate consumption, government purchases, national saving and investment.

Q. Suppose, at its present rate of output, a perfectly competitive firm's marginal revenue exceeds both its marginal cost and its average variable cost. To maximize profit, the firm should

Reference no: EM1362108

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