In an atomistic market, each seller's size is too small, relative to the market as a whole, that they have no appreciable effect on price. As a result, such sellers have no
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Monopolistic competition — Short run equilibrium of the firm under monopolistic competition. The firm maximizes its profits and produces a quantity where the firm s marginal revenue (MR) is equal to its marginal cost (MC). The firm is able to collect a price based on the… … Wikipedia
Perfect competition — Economics … Wikipedia
monopoly and competition — ▪ economics Introduction basic factors in the structure of economic markets.In economics monopoly and competition signify certain complex relations among firms in an industry. A monopoly implies an exclusive possession of a market by a… … Universalium
Classical liberalism — Liberalism … Wikipedia
libertarianism — See libertarian. * * * Political philosophy that stresses personal liberty. Libertarians believe that individuals should have complete freedom of action, provided their actions do not infringe on the freedom of others. Libertarianism s distrust… … Universalium
Europe, history of — Introduction history of European peoples and cultures from prehistoric times to the present. Europe is a more ambiguous term than most geographic expressions. Its etymology is doubtful, as is the physical extent of the area it designates.… … Universalium
Capital, Volume I — is the first of three volumes in Karl Marx s monumental work, Das Kapital, and the only volume to be published during his lifetime. Originally published in 1867, Marx s aim in Capital, Volume I is to uncover and explain the laws specific to the… … Wikipedia
Heterodox economics — refers to the approaches, or schools of economic thought, that are considered outside of mainstream, that is, orthodox economics. Heterodox economics is an umbrella term used to cover various separate unorthodox approaches, schools, or traditions … Wikipedia
Emergence — For other uses see Emergence (disambiguation), Emergent, and Emergency. : See also the closely related articles: Spontaneous order and self organization. In philosophy, systems theory and the sciences, emergence is the way complex systems and… … Wikipedia
BIBLE — THE CANON, TEXT, AND EDITIONS canon general titles the canon the significance of the canon the process of canonization contents and titles of the books the tripartite canon … Encyclopedia of Judaism
