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A Micromacroeconomic Analysis Based on a Representative Firm
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adjustment aggregate demand analysis assume assumption average bank behaviour beneﬁts budget capital cent competitive constraint consumer consumption deﬁned deﬁnition demand curve demand function discussion distribution diversiﬁed merger Economica effect eﬂicient elasticity employment Engel curves equilibrium estimates exchange rate exogenous expenditure factor ﬁgures ﬁnal ﬁnance ﬁnancial ﬁnd ﬁrm ﬁrmís ﬁrst ﬁxed given growth household hypothesis implies incomes policy increase individual industry inﬂation inﬂuence innovations input interest rates Joumal Labour Economics long-run Lorenz curve macroeconomic marginal cost measure monetary monopoly oligopoly optimal output Oxford paper parameters Phillips Curve pollution taxes price leadership price level problem production proﬁts rational expectations real wage reduce reﬂection relative satisﬁed School of Economics sector short-run signiﬁcant social speciﬁcation Statistics substitution supply survey Table Theorem theory trade union control United Kingdom University Press utility function variable welfare welfare economics zero