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Unformatted text preview: refers to a market with only one buyer. In this market, the buyer will maximize its profits, which is the difference of value and expenditure. max When profit is maximized (V(Q) - E(Q)) = 0 Thus, MV = ME, that is, the marginal value (additional benefit from buying one more unit of goods) is equal to the marginal expenditure (additional cost of buying one more unit of goods)....
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