Cowan, Simon GB; Cowan, Simon - Department of Economics, Oxford University - 2004
The effects of demand shifts on output, price and profits in imperfectly competitive industries with no entry or exit … functions. Necessary and sufficient conditions for output, price and profits to increase with an outward demand shift are … derived for each case. Either output or the price, but not both, may fall with a positive demand shift. Profits may also fall …