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Practice: Increasing, decreasing, and constant cost industries. Practice: Efficiency and perfect competition. Next lesson.
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Be the first to write a review About this product. About this product Product Information The article presented here reflects a scientific work of more than ten years. During this too long period I enjoyed useful discussions with many researchers and scientists. I offer my apologies for being unable to thank every single one of them here explicitly.
Valuable hints of Dr. Klodt, Prof.
Lipecki, and Prof. Peleg improved the work.
The help ful conversations with and the hospitality of Prof. Armstrong and Prof. Richter are gratefully acknowledged.
The instructions in macro economics by Prof. Gabisch were very helpful for my principal reasoning.
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Efficiency of Perfect Competition
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Efficiency in perfectly competitive markets (article) | Khan Academy
Economic literature: papers , articles , software , chapters , books. In the original model of pure price competition, due to Joseph Bertrand , firms have linear cost functions.
I analyze pure price competition both in a static setting - where the firms interact once and for all - and in dynamic setting - where they interact repeatedly over an indefinite future. Sufficient conditions are given for the existence of Nash equilibrium in the static setting and for subgame perfect equilibrium in the dynamic setting.
Related A Static Microeconomic Model of Pure Competition
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