More on Archibald versus Chicago

Milton Friedman

Chapter 11 in Readings in Industrial Economics, 1972, pp 187-191 from Palgrave Macmillan

Abstract: Abstract Theorists of monopolistic competition contend that firms have a strong tendency to differentiate their product and that, when there are no ‘real’ differences, firms will seek to create trivial and ‘artificial’ differences to establish a separate market. Whatever else Archibald’s piece may contribute to monopolistic competition, it is a striking confirmation that these predictions are as applicable to professional writing as to toothpaste.

Keywords: Marginal Cost; Abstract Model; Demand Curve; Average Cost; Cost Curve (search for similar items in EconPapers)
Date: 1972
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Journal Article: More on Archibald versus Chicago (1963)
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DOI: 10.1007/978-1-349-15484-5_11

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