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Marginal Revenue (MR)
This is the increase in Total Revenue resulting from the sale of an extra unit of output. Thus, if TRn-1 is Total Revenue from the sale of (n-1) units and TRn is total revenue from the sale of n units, then the marginal revenue of the nth unit is given as:
dTR = P(1 - 1/Ed) or TRn - TRn - 1
dQ
Bank Deposit Bank notes and coins together constitute the currency in circulation. But they form only a part of the total money supply. The larger part of the money supply i
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Thinking about modifications in the model again: Go back to the original model again, but add a marginal propensity to invest, this is, suppose that I = f ( i and Y). The MPI is d
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