Consistent Comparisons Between Monopoly and Perfect Competition

Some inconsistencies in standard treatments of the perfect competition-monopoly welfare comparison are identified. A more consistent and productive pedagogical approach for courses in intermediate microeconomics is suggested.

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Bibliographic Details
Published in:The Journal of economic education 1992-07, Vol.23 (3), p.255-261
Main Authors: Skeath, Susan E., Velenchik, Ann D., Nichols, Len M., Case, Karl E.
Format: Article
Language:English
Subjects:
Competition
Computation
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Microeconomics
Monopoly
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Perfect competition
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Description
Summary:Some inconsistencies in standard treatments of the perfect competition-monopoly welfare comparison are identified. A more consistent and productive pedagogical approach for courses in intermediate microeconomics is suggested.
ISSN:0022-0485
2152-4068
DOI:10.1080/00220485.1992.10844760