ERIC Number: EJ458442
Record Type: Journal
Publication Date: 1992
Reference Count: N/A
The Welfare Effects of Monopoly versus Competition: A Clarification of Textbook Presentations.
Lamdin, Douglas J.
Journal of Economic Education, v23 n3 p247-53 Sum 1992
Addresses effects of monopoly and competition on societal welfare. Discusses inadequacy of economics textbooks. Concludes that most texts fail to explain the shape of monopolists' underlying cost curves. Argues that the monopolist's long run marginal cost curve cannot be obtained by horizontal summation of the long run marginal cost curves of individual plants. (DK)
Publication Type: Journal Articles; Reports - Evaluative
Education Level: N/A
Audience: Teachers; Practitioners
Authoring Institution: N/A