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Describe the key assumption that drives Keynes's ISLM model.
Marginal Revenue
The boost in income derived from the sale of an extra unit of a product or service.
Marginal Cost
The additional cost incurred in the production of one extra unit of a good or service.
Marginal Profit
The additional profit gained from producing or selling one more unit of a good or service.
MR < MC
A condition where marginal revenue is less than marginal cost, suggesting that a firm should reduce its output to maximize profit.
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