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- Title
PRICE FLEXIBILITY AND THE "DEGREE OF MONOPOLY"
- Authors
Dunlop, John T.
- Abstract
The article discusses the concepts of price flexibility. Measures of price flexibility are described in relation to economic factors. Statistical measures of the degree of flexibility is calculated in terms of percentage change per unit of time for a particular price series. The concept of output flexibility applies to a single price or group of prices. Thus, the author considers the degree of output flexibility as the ratio of proportional change in output and price. He suggests that in the interpretation of the gap between marginal cost and price, the particular change should be assessed for equilibrium.
- Subjects
PRICE flexibility; PRICES; ECONOMIC impact; ECONOMIC equilibrium; CONSUMPTION (Economics); ECONOMICS; INTERNATIONAL finance
- Publication
Quarterly Journal of Economics, 1939, Vol 53, Issue 4, p522
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1883276