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#cfa #cfa-level-1 #economics #introduction #lol #microeconomics #reading-15-demand-and-supply-analysis-the-firm #study-session-4
The main focus of this reading is the cost side of the profit equation for companies competing in market economies under perfect competition.
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1. INTRODUCTION
ined by the demand and supply behavior in the markets into which the firm sells/provides its goods or services. Costs are a function of the demand and supply interactions in resource markets, such as markets for labor and for physical inputs. <span>The main focus of this reading is the cost side of the profit equation for companies competing in market economies under perfect competition. A subsequent reading will examine the different types of markets into which a firm may sell its output. The study of the profit-maximizing firm in a single time period is t


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