Cost-Minimizing Number of Firms and Determination of Industry Structure

William Baumol and Dietrich Fischer

The Quarterly Journal of Economics, 1978, vol. 92, issue 3, 439-467

Abstract: I. Introduction, 439.—II. Least-cost number of firms in a multiproduct industry, 441.—III. Shape of the M locus: economic interpretation, 446.—IV. Regions in which some specified number of firms may be optimal, 450.—V. Scale of demand and cost-minimizing market form, 454.—VI. The single-product case, 455.—VII. Conclusion, 460.—Appendix A: Proof of Theorem Ib, 462.—Appendix B: Proof of Theorem 3, 464.

Date: 1978
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