This book provides a simple methodology to examine the deviations from Perfect Competition equilibrium condition, where the price level is set equal to the marginal cost. It empirically tests time series data to inform policymakers of how far the economy, or an industry is moving away from Perfect Competition, and in which direction.
This book provides a simple methodology to examine the deviations from Perfect Competition equilibrium condition, where the price level is set equal to the marginal cost. It empirically tests time series data to inform policymakers of how far the economy, or an industry is moving away from Perfect Competition, and in which direction.
Weshah Razzak is Honorary Research Fellow at the School of Economics and Finance, Massey University, Palmerston North, New Zealand.
Inhaltsangabe
1. Introduction, Definitions, the Research Problem and Objectives 2. Microeconomic Theory of Perfect Competition 3. Measuring the Deviation from Perfect Competition: Macroeconomic Data 4. The US Industry-Level Deviations from Perfect Competition 4. Testing Industry Level Perfect Competition in the US 5. Cross Country Comparison of Perfect Competition 6. Summary and Conclusion
1. Introduction, Definitions, the Research Problem and Objectives 2. Microeconomic Theory of Perfect Competition 3. Measuring the Deviation from Perfect Competition: Macroeconomic Data 4. The US Industry-Level Deviations from Perfect Competition 4. Testing Industry Level Perfect Competition in the US 5. Cross Country Comparison of Perfect Competition 6. Summary and Conclusion
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