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The Competitive Firm
- Price taker
- Market output (Q) and firm output (q)
- Market demand (D) and firm demand (d)
- R(q) is straight line Demand and Marginal Revenue Faced by Competitive Firm
- The competitive firm's demand
- Profit Maximization
Policy Implications: The expansion of the services sector has wider implications for population, employment, and trade prospects of the economy, some of which are as follows:
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three marginal conditions of pareto optimality
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