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Equilibrium and optimum in markets of monopolistic competition

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  • Gorelikov, K.

Abstract

The article investigates the behavior of heterogeneous firms associated with the production of differentiated goods under conditions of monopolistic competition. Shows the importance of heterogeneous firms in achieving equilibrium and social optimum. Great attention is paid to the consideration of variable demand elasticity and endogenous heterogeneous firms. In the article, the various aspects of the evaluation of models of market equilibrium monopolistic competition, and social optimum (Pareto-optimum). The research is carried out through the consideration of issues such as: the number of represented products; the adequacy of our products and their possible deficit; efficiency of technology choice in the production of products; the optimal size of a monopolistic competitive industries relative to the rest of the economy. In the conclusion summarizes the key findings.

Suggested Citation

  • Gorelikov, K., 2016. "Equilibrium and optimum in markets of monopolistic competition," Journal of Modern Competition, Synergy University, vol. 10(1), pages 92-107.
    • Handle: RePEc:snr:mdrcmp:v:10:y:2016:i:1:p:92-107
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