price equilibrium

Later we will strengthen this to make a price equilibrium.

In economics, the principle has been generalized to help explain the price equilibrium of efficient economic systems.

The only difference between this definition and the standard definition of a price equilibrium with transfers is in statement (ii).

Then, if there exists a consumption vector such that and , a price quasi-equilibrium is a price equilibrium.

Other necessary economic concepts for description could well include economies of scale, diseconomies of scale, monopoly (or cartel) price equilibrium, and "dumping".

First, there was a spatial price equilibrium perspective, as in Henderson (1957, 1958) Next, Stevens (1961) merged rent and transportation concepts in a simple, interesting paper.

Hence, in precisely the sense of repeatedly fluctuating away from a contract curve then returning to its vicinity, the system does not achieve an optimizing price equilibrium, but satisfices.

Okishio executed the iteration process to the end using mathematical tools and proved that it converges to production price equilibrium with positive profits, i.e. equal to Bortkiewicz equation.

A monopoly will produce where their average cost curve meets the market demand curve under Average Cost Pricing, referred to as the Average Cost Pricing Equilibrium.

We now turn to conditions under which a price quasi-equilibrium is also a price equilibrium, in other words, conditions under which the statement "if then " imples "if then ".

It is often assumed that agents are price takers, and under that assumption two common notions of equilibrium exist: Walrasian (or competitive) equilibrium, and its generalization; a price equilibrium with transfers.

This stimulates producers to shift production, increasing mushrooming investment, which would increase market supply and a new price equilibrium between the products - e.g. lowering the price of mushrooms to a level between the two first levels.

The proof proceeds in two steps: first, we prove that any Pareto-efficient allocation can be supported as a price quasi-equilibrium with transfers; then, we give conditions under which a price quasi-equilibrium is also a price equilibrium.

According to him, the transition from inflation to price equilibrium in the past has been a time of severe crisis - and, indeed, he said, just such a crisis has been unfolding in recent years, with the shattering changes in the former Soviet Union and economic and social strains elsewhere.