Marshall's theory of value: the role of external economies
Article Abstract:
A. Marshall's theory of economic value attempts to reconcile the existence of competition and declining long-run average costs. The theory considers that external economies are a major source of industrial development but they hardly moderate the monopolistic tendency of individual firms in internal economies. The concept of representative firm, and the biological analogy of Marshall's analysis clearly indicate that internal economies hardly lead to an inevitable monopoly.
Publication Name: Cambridge Journal of Economics
Subject: Economics
ISSN: 0309-166X
Year: 1996
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Consumption and time in economics: prices and quantities in a temporary equilibrium perspective
Article Abstract:
An analysis of cost-plus non-competitive prices and quantities set by the firm for the market demand and its relation with firm's output is presented by using Hick's temporary equilibrium frameworks.
Publication Name: Cambridge Journal of Economics
Subject: Economics
ISSN: 0309-166X
Year: 2005
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Capital theory and the origins of the elasticity of substitution (1932-35)
Article Abstract:
A study on the elasticity of substitution is presented. The effects of imperfect competition, supply and demand and capital theoretical issues thereon are also discussed.
Publication Name: Cambridge Journal of Economics
Subject: Economics
ISSN: 0309-166X
Year: 2005
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