Supply Schedule of an Industry Under Perfect Competition

Richard Kahn
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Richard Kahn: University of Cambridge

Chapter Chapter 4 in The Economics of the Short Period, 1989, pp 37-44 from Palgrave Macmillan

Abstract: Abstract It is now quite apparent that if reference is made at all to the supply schedule of a firm, it must be made with considerable caution. It is not a definite thing; its shape depends both on past history and on future prospects, and its discontinuities are such as to prevent any semblance of reversibility. But, in a given set of circumstances, a supply schedule can be drawn for each firm in the industry. Then an aggregate supply schedule can be derived so as to indicate the effect on the industry’s output of a change in the price of the product, occurring in the manner which is appropriate to the individual supply schedules.

Keywords: Supply Curve; Overhead Cost; Aggregate Supply; External Economy; Prime Cost (search for similar items in EconPapers)
Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-09817-0_4

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DOI: 10.1007/978-1-349-09817-0_4

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