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Microeconomics II
book

Microeconomics II

by D.N. Dwivedi
August 2011
Intermediate to advanced content levelIntermediate to advanced
368 pages
14h 51m
English
Pearson India
Content preview from Microeconomics II
82 Chapter 4
the relevance of the pricing theories based on perfect competition and monopoly declined gradually.
erefore, in the late 1920s and the early 1930s, economists expressed their dissatisfaction with perfect
competition and pure monopoly models, as these models did not represent the real world business
behaviour that prevailed at that time. In reality, there were very few monopolies because there were
very few commodities for which there were no close substitutes, and there were very few perfectly com-
petitive markets because there were very few homogeneous products. In today’s business world, perfect
competition and ...
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Publisher Resources

ISBN: 9788131797655