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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Full Industry Equilibrium

Full Industry Equilibrium

Opocher, Arrigo
Steedman, Ian

Paperback

Business GeneralEconomics

ISBN10: 1107483832
ISBN13: 9781107483835
Publisher: Cambridge University Press
Published: Jan 9 2020
Pages: 232
Weight: 0.70
Height: 0.49 Width: 6.00 Depth: 9.00
Language: English
This highly original book develops a systematic zero-net-profit comparative statics theory of the firm that challenges many widely held views in microeconomics. It builds a bridge between the marginalist long-run theory of the firm and Sraffian theory to create a unified theoretical framework that explains how firms react to exogenous shocks resulting in new equilibrium positions of the whole economy. The central message of the book is that too often economists expect more from the microeconomic laws of input demand and output supply than they can really give. The authors show that the zero-net-profit condition requires a more articulated analysis that sometimes yields qualitative results contrary to those of familiar economic laws. Written for academic researchers and graduate students, the book will be of particular interest to those working on the microeconomics of industry equilibrium, comparative statics and Sraffian economics.

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