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Author Question: Equilibrium in a perfectly competitive market results in the greatest amount of economic surplus, or ... (Read 77 times)

JMatthes

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on: Jun 29, 2018
Equilibrium in a perfectly competitive market results in the greatest amount of economic surplus, or total benefit to society, from the production of a good.
 
  Why, then, did Joseph Schumpeter argue that an economy may benefit more from firms that have market power than from firms that are perfectly competitive?

Question 2

In many business situations one firm will act first, and then other firms will respond. To help analyze these types of situations economists use
 
  A) follow-the-leader-games. B) sequential games.
  C) retaliation games. D) bargaining games.
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juwms

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Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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JMatthes

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

zacnyjessica

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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