Abstract
Nucleus of our economic theory of public enterprise is the optimal allocation. Thus in the preceding chapters, we have considered welfare optimal prices for efficiently producing public enterprises: Marginal cost prices for public enterprises in a completely competitive surrounding; prices that deviate from marginal costs for public enterprises in a “monopolistic” surrounding. Extensions of the basic model of maximizing consumer surplus plus producer surplus referred to non-allocational objectives or constraints including the revenue-cost constraint. These objectives and constraints, respectively, were always assumed to be given exogenously. And in any case, we assumed the public enterprise to produce efficiently, that means to produce any quantity of goods at the minimal possible costs.
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© 1981 Springer-Verlag Berlin Heidelberg
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Bös, D. (1981). Conclusion: Welfare economics, business economics, and political economics. In: Economic Theory of Public Enterprise. Lecture Notes in Economics and Mathematical Systems, vol 188. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-45523-0_8
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DOI: https://doi.org/10.1007/978-3-642-45523-0_8
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-10567-1
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