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An Economic System under Conditions of Perfect Competition
The Formal Conclusions
Imperfect or Monopolistic Competition
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action agreement agriculture allocation amount analysis areas assume balance of payments bank billion borrowing branding capital chapter commodity competition consumers consumption countries craft unions currency demand for money distribution dollars domestic economic units effect efficient elasticity employer equilibrium level exchange exports factors factors of production farm farmers firm foreign Fund government expenditure gross national product groups important income increase individual industries international trade investment labor market labor supply labor unions level of employment level of gross level of prices loans manufacturers marginal cost marginal revenue ment monetary money supply money wages monopoly monopsony nomic number of workers organization output perfect competition period price-demand curve problem profits purchases quantity quota rate of interest reduce relative restrictions result retailer rise securities selling shift sumers supply of money tariff tion union United States dollars wage rates