Competitive and Monopoly Price: A Criticism of Current Theory with Special Reference to Its Bearing Upon the Trust Problem (Classic Reprint) - Softcover
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Excerpt from Competitive and Monopoly Price: A Criticism of Current Theory With Special Reference to Its Bearing Upon the Trust Problem
Just what normal profits are, as was pointed out above,2 can not be stated precisely as a certain per cent or as a fixed amount. Yet that such a thing as normal profits exists as a feature of current thought, is evidenced by the not infrequent reference to profits in some transactions as abnormal. Normal profits will Of course vary with the quality of business ability te quired in various undertakings, the risk involved, and other attending conditions, - in brief, with the character of the business. A sufficiently accurate description Of normal profits is afforded by the statement that profits may be considered normal in any industry when they afford no special or extra inducement to enter the busi ness or to leave it.
Competitive price, then, tends to equal social cost of production.
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Competitive and Monopoly Price (Classic Reprint)
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Paperback. Zustand: New. Print on Demand. This book presents a groundbreaking critique of the prevailing trust policy in the US, arguing that it's based on a flawed understanding of how prices are determined. The author demonstrates that price is not solely determined by competition, but also by the level of cooperation among businesses, which is necessary to ensure fair profits for producers and fair prices for consumers. The book challenges the current policy's overemphasis on competition and suppression of cooperation, arguing that this approach has failed to achieve its intended goals and, in fact, exacerbated the problem it sought to solve. Instead, the author proposes a framework that balances competition and cooperation, ensuring fairness for both producers and consumers within a rapidly evolving industrial landscape. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Bestandsnummer des Verkäufers 9781330129425_0
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Competitive and Monopoly Price A Criticism of Current Theory With Special Reference to Its Bearing Upon the Trust Problem Classic Reprint
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PAP. Zustand: New. New Book. Shipped from UK. Established seller since 2000. Bestandsnummer des Verkäufers LW-9781330129425
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