Consumer-producer's Decisions to Choose the Optimum Level and Pattern of Specialization

Xiaokai Yang and Wai-Man Liu
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Wai-Man Liu: University of New South Wales, Australia

Chapter 2 in Inframarginal Economics, 2008, pp 31-57 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:The Smithian Framework and Transaction CostsConfigurations and Corner Solutions in the Smithian FrameworkThe Optimum Resource Allocation for a Given Level and Pattern of SpecializationThe Optimum Level and Pattern of SpecializationInframarginal analysis of demand and supplyInframarginal and marginal comparative statics of the decisionsNeoclassical and Smithian Laws of Supply and Elasticity of SubstitutionFurther ReadingQuestionsExercises

Keywords: Inframarginal Economics; Inframarginal Analysis; Division of Labor; Specialization; Network Effects; Smithian Framework; Transaction Costs (search for similar items in EconPapers)
JEL-codes: O30 (search for similar items in EconPapers)
Date: 2008
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