Under perfect competition and constant returns to scale, firms producing homogeneous products set their prices at their marginal costs which also equal their average costs. However, the departure from these standard assumptions has important implications with respects to the derived theoretical...

Under perfect competition and constant returns to scale, firms producing homogeneous products set their prices equal to marginal costs, which also equal their average costs. However, the departure from these standard assumptions has important implications with respect to the derived theoretical...

Under perfect competition and constant returns to scale, firms producing homogeneous products set their prices at their marginal costs which also equal their average costs. However, the departure from these standard assumptions has important implications with respects to the derived theoretical...