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Using separate graphs, demonstrate what happens to the money supply, money demand, the value of money, and the price level if:
a. The central bank increases the money supply.
b. People decide to demand less money at each value of money.
Firm
A business organization, such as a corporation or partnership, that sells goods or services for profit.
Marginal Revenue
The enhanced earnings from selling an additional unit of a product or service.
Pure Competition
A market structure characterized by a large number of firms, all producing identical products, and no single firm has any influence over market price.
Extra Unit
The additional quantity of a product or service that is produced or provided.
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