microeconomics

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microeconomics

the branch of economics concerned with particular commodities, firms, or individuals and the economic relationships between them
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References in periodicals archive ?
They discussed the center of the limit price theory because within a limit price model, the oligopoly solution is reached by the movement of production of the industry towards equilibrium.
We then conclude by reviewing Rothschild's approach for guidance that might fruitfully be explored in future research that incorporates oligopoly into price theory.
Price theory predicts high levels of substitution between products serving closely related functions.
In contrast to the substantial efforts to develop Chicago school and post-Chicago school theories, economists have devoted relatively little effort to developing a theoretical framework that could be applied when one or more of the assumptions underlying price theory fails to hold, such as that businesspeople and consumers do not act rationally.
Price theory is not the only economic framework that purports to explain the origin and formation of non-standard contracts.
Neoclassical microeconomics, or price theory, has had a tremendous
transformation problem and its relation to the price theory, I introduce
Thus, the main problem with the book is that Marglin confuses the failure of neoclassical price theory with the failure of free enterprise.
Jacob Viner (1940, 7-8), who taught Friedman price theory at the University of Chicago, aptly characterized the intellectual environment engendered by the Depression:
When I went to the University of Chicago for graduate study in 1959, I audited Milton's price theory course my first semester and later became a member of his justly famous Money Workshop.
They were collaborators on a number of projects and books, including Price Theory and Free to Choose.
His application of basic price theory to understand the consequences of this policy is in the best tradition of empirical price theory at Chicago.