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LET'S RID OURSELVES OF THE REPRESENTATIVE FIRM MODEL

J. Wilson Mixon, Jr. (Berry College)

Studies in Economics and Finance

ISSN: 1086-7376

Article publication date: 1 January 1991

Abstract

The representative firm model is used to demonstrate that competitive markets yield least‐cost production in the long run. This model is deficient in two respects: The demonstration's validity is suspect and it fails to show that least‐cost production occurs in the short run as well.

Citation

Wilson Mixon, J. (1991), "LET'S RID OURSELVES OF THE REPRESENTATIVE FIRM MODEL", Studies in Economics and Finance, Vol. 14 No. 1, pp. 3-9. https://doi.org/10.1108/eb028696

Publisher

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MCB UP Ltd

Copyright © 1991, MCB UP Limited