More on Archibald versus Chicago
Theorists of monopolistic competition contend that firms have a strong tendency to differentiate their product and that, when there are no ‘real’ differences, firms will seek to create trivial and ‘artificial’ differences to establish a separate market. Whatever else Archibald’s piece may contribute to monopolistic competition, it is a striking confirmation that these predictions are as applicable to professional writing as to toothpaste.
KeywordsMarginal Cost Abstract Model Demand Curve Average Cost Cost Curve
Unable to display preview. Download preview PDF.