Abstract
Among the large unresolved issues in industrial organization is the question: do monopoly positions and their profits arise from the economies of scale, or from the pursuit and exercise of market power? In 1895–1910, the newly formed industrial trusts were defended as embodiments of modern technology. New methods of large-scale production, it was said, made the large market shares for trusts inevitable. The issue was intensely controversial then, and it still is.
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Shepherd, W.G. (1983). Economies of Scale and Monopoly Profits. In: Craven, J.V. (eds) Industrial Organization, Antitrust, and Public Policy. Middlebury Conference Series on Economic Issues. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-1874-5_9
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DOI: https://doi.org/10.1007/978-94-017-1874-5_9
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