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Absolute Cost Advantages and Barriers to Entry
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allocation of resources analysis assume assumption b+1+n barriers to entry behavior benefit of innovation capital chapter consumer surplus consumers contingent commodity cost advantages demand function derived discounted discussed distortion economies of scale effect efficiency elasticity entrepreneur entry barriers equal equation equilibrium value exists expected value externality extrapolation principle given goodwill hence high quality higher imitators implies incentive incumbent firms indifference curves inno innovation costs investment linear price schedule lity marginal cost maximizing natural monopoly obtain obviously oligopolistic optimal optimum output parameter patent protection perfect competition positive private benefits problem product differentiation product of unknown product quality profit progressive industries quality premium quality product rate of growth rational expectations reasons reduce relevant rise risk aversion risky Seiten situation social benefit social cost strategies strong interaction structure substantial supplier theory tion unknown quality variable vertical integration X-inefficiency zero