Optimal Long-Term Investment When Price Depends on Output (Classic Reprint)

Excerpt from Optimal Long-Term Investment When Price Depends on Output

Given the diversity of the literature on imperfect product markets,it is useful, before proceeding, to clarify what type of market this analysis seeks to address. Imperfect markets are frequently defined in opposition to perfectly competitive markets which are characterized in two ways (perfect Competition) 1. All sellers face a horizontal demand curve for the product, or 2. The number of sellers is very large. (usually (2) implies that (l) effectively holds for all participants). The imperfect market treated in this paper is one in which the industry total demand curve is downward sloping: the impact of different numbers of market participants on optimal investment decisions will be examined in the course of the analysis.

About the Publisher

Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com

This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.