Handbook of the Law of Antitrust |
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A monopolist , by contrast , since its output is the output of the industry , will recognize that the higher its output , the lower will be the price it can charge ; it will therefore adjust output and price to maximize its return .
A monopolist , by contrast , since its output is the output of the industry , will recognize that the higher its output , the lower will be the price it can charge ; it will therefore adjust output and price to maximize its return .
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Picture now a tight oligopoly — an industry of three firms , one having 40 % of the market and the others having 30 % each . Assume that the product they make is homogeneous and that their cost structures are substantially identical .
Picture now a tight oligopoly — an industry of three firms , one having 40 % of the market and the others having 30 % each . Assume that the product they make is homogeneous and that their cost structures are substantially identical .
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What is needed is not a model of the industry worked out with mathematical refinement , but a full and informed conception of the industry as a dynamic system , a conception which incorporates all that can sensibly be taken as known for ...
What is needed is not a model of the industry worked out with mathematical refinement , but a full and informed conception of the industry as a dynamic system , a conception which incorporates all that can sensibly be taken as known for ...
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Chapter | 1 |
An Eclectic View of Antitrust and Legal Doctrine | 10 |
Basic Statutory Materials | 13 |
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