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General Principles of Price Setting in Competitive and Monopolized Markets
https://doi.org/10.32609/0042-8736-2005-10-56-71
Abstract
The author uses microeconomic approach to compare optimal price, input and output quantity setting for a firm in a competitive industry and with market power. Revealed profit maximization principle is applied to draw a conclusion that production technology plays a fundamental role in cost determination for a monopoly and a competitive firm. Production technology is a key factor that promotes both centrifugal, contending and centripetal, integrative trends in a modern economy.
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Review
For citations:
Verenikin A. General Principles of Price Setting in Competitive and Monopolized Markets. Voprosy Ekonomiki. 2005;(10):56-71. (In Russ.) https://doi.org/10.32609/0042-8736-2005-10-56-71
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