We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
DOCTRINES OF IMPERFECT COMPETITION.
- Authors
Harrod, R.F.
- Abstract
This article focuses on the effects of imperfect competition on the equilibrium theory. The theory proposed a proposition according to which individual sources of output are very frequently confronted with a downward sloping demand curve. Traditional theory has clearly specified various conceptions with regard to the demand curve confronting a particular source of output in situations of perfect competition and of absolute monopoly. The theory also uses a very broad term called source of supply. Fixed aids to production may be divided into the material and the immaterial. The immaterial aids consist of knowledge, experience and connections of persons involved in the regulation of industrial productivity. Perfect competition is usually characterized by the presence of an organized exchange, through which sales can be effected, and by the complete homogeneity of the products of competing sources. There is a correlation between imperfect competition and distortion from the optimum distribution of resources.
- Subjects
IMPERFECT competition; ECONOMIC equilibrium; STATICS &; dynamics (Social sciences); MARKET potential; PERFECT competition; MONOPOLISTIC competition; INDUSTRIAL productivity; INDUSTRIAL statistics; PRODUCTION (Economic theory)
- Publication
Quarterly Journal of Economics, 1934, Vol 48, Issue 3, p442
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1882823