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Economic problems and their solution
property and coordination
Specification of the system and elementary analysis
17 other sections not shown
achieved allocative efficiency alternative analysis and/or assumed assumptions barriers to entry behaviour BEPs capitalist systems choice competitive capitalism constraints consumption contemporary capitalism coordinated cost curves decentralized decisions demand curve derived diseconomies of scale economic problems economic system economies and diseconomies enterprise's entrenched monopolist equilibrium evaluate factors feedback Figure given held constant household preferences increase indifference curves individual industry inelastic expectations influence isocost isoquant joint profit jointly consumable LAC curve large number least cost combinations level of output level of satisfaction market price market system maximum minimum LAC normal profit number of enterprises objective function oligopolists oligopoly opportunity cost parameters Pareto criterion particular plans price taker primary economic units product differentiation profit maximization purchases purely competitive quantity demanded result sales promotion short run slope social society solutions specified structural substitution supply curve total outlay total revenue units of Xi value judgements variable viewpoint whilst