Utility Maximization, Individual Production and Market Equilibrium
AbstractThis paper constructs an equilibrium model of the supply behavior of an industry comprised of utility maximizing owner-operators, and derives its implications for empirical work. Except for the case of long-run constant costs, the perverse results for the firm (a backwar d-bending labor supply curve for the entrepreneur may lead to a negatively-sloped product supply curve and positively-sloped input demand curve) carry through to the industry. New results include the finding that, under increasing costs, a rise in entry costs can lead to a fall in price, even when the entrepreneur's labor supply curve is upward sloping.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoPaper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 10815.
Date of creation: 01 Oct 1988
Date of revision:
Publication status: Published in Southern Economic Journal, October 1988, vol. 55 no. 2, pp. 374-390
Contact details of provider:
Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
Phone: +1 515.294.6741
Fax: +1 515.294.0221
Web page: http://www.econ.iastate.edu
More information through EDIRC
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Thomas F. Crossley & Jeremiah Hurley & Sung-Hee Jeon, 2009.
"Physician labour supply in Canada: a cohort analysis,"
John Wiley & Sons, Ltd., vol. 18(4), pages 437-456.
- Thomas F. Crossley & Jeremiah Hurley & Sung-Hee Jeon, 2006. "Physician Labour Supply in Canada: a Cohort Analysis," Social and Economic Dimensions of an Aging Population Research Papers 162, McMaster University.
- Thomas F. Crossley, Jeremiah Hurley, and Sung-Hee Jeon, 2006. "Physician Labour Supply in Canada: a Cohort Analysis," Department of Economics Working Papers 2006-02, McMaster University.
- Thomas F. Crossley & Jeremiah Hurley & Sung-Hee Jeon, 2007. "Physician Labour Supply in Canada: a Cohort Analysis," Centre for Health Economics and Policy Analysis Working Paper Series 2006-04, Centre for Health Economics and Policy Analysis (CHEPA), McMaster University, Hamilton, Canada.
- Thomas F. Crossley & Jeremiah Hurley & Sung-Hee Jeon, 2006. "Physician Labour Supply in Canada: a Cohort Analysis," Quantitative Studies in Economics and Population Research Reports 410, McMaster University.
- William Stull, 2014. "Taking the Plunge: Teaching the Microeconomics of Entrepreneurship," International Advances in Economic Research, Springer, vol. 20(2), pages 139-150, May.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Stephanie Bridges) The email address of this maintainer does not seem to be valid anymore. Please ask Stephanie Bridges to update the entry or send us the correct address.
If references are entirely missing, you can add them using this form.