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Perfect competition and a monopoly: the restrictions set by the theory

Author

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  • Vasiliev, Е.

    (Russian Academy of Economics and Business)

  • Vorobyev, I.

Abstract

The analysis of the rational choice systemic function theory conducted by one of the article authors shows that the best (optimal) balanced state of the market economy are not correlated with the maximum figures related to the economy material elements. What is more, as a rule, if all the production functions and usefulness functions are used to the maximum, the result is far from optimal in the market economy situation in general. The theory analysis shows that the perfect competition has its intrinsical serious systemic restrictions.

Suggested Citation

  • Vasiliev, Е. & Vorobyev, I., 2008. "Perfect competition and a monopoly: the restrictions set by the theory," Journal of Modern Competition, Synergy University, issue 2, pages 130-135.
    • Handle: RePEc:snr:mdrcmp:y:2008:i:2:p:130-135
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