CONCEPTS AND THEORIES OF PURE COMPETITION
RAND CORP SANTA MONICA CA
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A classical formulation of the marketplace is examined from three different theoretical view points, and the three solutions that result are contrasted. When the number of participants is small, the solutions are very different, both in their form and in their quantitative predictions. As the size of the market increases, however, they all converge to a common solution, despite the wide disparity in the underlying assumptions.
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