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A Closer Look at the Comparative Statics in Competitive Markets

  • José Ramón Ruiz-Tamarit
  • Manuel Sánchez-Moreno

In this paper we revisit the dual approach to comparative statics in competitive markets, allowing for the essential results to arise from a comprehensive and unified framework. We study, for both the long-run and the short-run, the response of all the endogenous variables to price factor changes in a way that captures the outputprice effects arising from market-firm interactions. We show that it is necessary a richer characterization of the nature of factors with respect to output, connected with marginal cost and output demand elasticities, for completely determining such responses.

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Paper provided by FEDEA in its series Working Papers with number 2005-13.

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Handle: RePEc:fda:fdaddt:2005-13
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  1. Lowell R. Bassett & Thomas E. Borcherding, 1970. "The Firm, the Industry, and the Long-Run Demand for Factors of Production," Canadian Journal of Economics, Canadian Economics Association, vol. 3(1), pages 140-44, February.
  2. Braulke, Michael, 1984. "The Firm in Short-run Industry Equilibrium: Comment," American Economic Review, American Economic Association, vol. 74(4), pages 750-53, September.
  3. Ferguson, C E & Saving, Thomas R, 1969. "Long-Run Scale Adjustments of a Perfectly Competitive Firm and Industry," American Economic Review, American Economic Association, vol. 59(5), pages 774-83, December.
  4. Braulke, Michael, 1987. "On the Comparative Statics of a Competitive Industry," American Economic Review, American Economic Association, vol. 77(3), pages 479-85, June.
  5. D. V. T. Bear, 1965. "Inferior Inputs and the Theory of the Firm," Journal of Political Economy, University of Chicago Press, vol. 73, pages 287.
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