Perfect Competition

Harold Lydall

Chapter 2 in The Entrepreneurial Factor in Economic Growth, 1992, pp 11-22 from Palgrave Macmillan

Abstract: Abstract This chapter will contain a more detailed assessment of the model of perfect competition. We shall start by considering the necessary (and sufficient) assumptions of the model, some of which are usually explicit while others are only implicit. We shall then proceed to appraise the model under three headings: the realism of its assumptions; its logical structure; and the verification of its predictions.

Keywords: Production Possibility; Imperfect Competition; Perfect Knowledge; Perfect Competition; Future Yield (search for similar items in EconPapers)
Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-37446-1_2

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DOI: 10.1057/9780230374461_2

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