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The Theory of the Firm
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aggregate supply analysis Assume assumption behavior budget constraint combination commodity consumer consumer's consumption corresponding cost functions decreasing defined demand and supply demand curve desires determined dollars duopolists Economic entrepreneur equal to zero equal zero equations equilibrium price excess demand functions exchange ratios factor first-order conditions given homogeneous of degree income increase indifference curve individual industry inputs interest rates investment isoquant labor linear long-run marginal cost mathematical maximum MC curve monopolistic competition multimarket equilibrium multiperiod negative numeraire optimum ordinal utility output level Pareto optimality partial derivatives partial derivatives equal perfect competition period positive problem production function profit maximization purchases Qi and Q2 quantity rate of change rate of return respect result satisfied second-order condition requires sell short-run slope solving stability strategy sumer supply curve theory tion total cost total revenue unit utility function utility index variables welfare