Skip to Main Content
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
Price and Output Determination Under Monopolistic Competition 89
Concept of Industry and Product Groups
Chamberlin pointed out also a conceptual problem in dening an industry under monopolistic
competition. Recall that an industry under perfectly competitive conditions is dened as a group of rms
producing a homogeneous product. But, this concept of industry cannot be applied to the cases where
products are dierentiated. Where products are dierentiated—slightly or substantially—each rm is,
in a sense, an industry in itself, exactly as a monopoly rm is an industry in itself. e heterogeneity of
the products, therefore, causes ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

Macroeconomics, Third Edition, 3rd Edition

Macroeconomics, Third Edition, 3rd Edition

Professor David G. Tuerck
Economics DeMYSTiFieD

Economics DeMYSTiFieD

Melanie Fox, Eric Dodge

Publisher Resources

ISBN: 9788131797655