The open loop gain of this circuit (without feedback resistors)
is given by the product of the gain of the individual stages.
Av=Av1Av2Av3
The gain of stage 1 (Av1) is given by equation
().
However, the load resistor RL now become the input resistance
of stage 2, which is (Note that in the figure.
The gain of stage 2 (Av2) is that of a CE amp with an active load.
Where the Rin3 is the input resistance of stage 3,
|RTB9, RTB10 are the input resistances of Q9 and Q10, which
for open loop and no load are almost infinity.