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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
advantage dis advantage of pure monopoly
if the inverse demand curve is p=120-Qand the marginal cost is const ant at 10 ,
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