From the Representative to the Equilibrium Firm: Why Marshall was not a Marshallian

Neil Hart

Chapter 9 in The Economics of Alfred Marshall, 2003, pp 158-181 from Palgrave Macmillan

Abstract: Abstract The representative firm has been a much-criticized concept, subject to conflicting interpretations with respect to both its configuration and its intended role in Marshall’s Principles (the Principles).2 The concept found itself a focal point of much of the debate during the significant cost controversies of the 1920s; however, it has appeared infrequently in subsequent economic analysis.3 In its place, the equilibrium firm has taken centre stage in the microeconomic textbooks, sometimes being mistaken for its vanquished predecessor.

Keywords: Economic Journal; Individual Firm; Competitive Condition; External Economy; Free Competition (search for similar items in EconPapers)
Date: 2003
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DOI: 10.1007/978-0-230-59963-5_9

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