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Explain Sraffa's critique of the Marshallian industry supply curve based on diminishing returns under the general case. for example when it says that the industry
Explain Sraffa's critique of the Marshallian industry supply curve based on diminishing returns under the general case.
for example when it says that the industry accounts for a very small share of the total quantity of the fixed factor. and
The Marshallian story of supply curve based on diminishing returns/increasing costs does not hold in general without contradicting its own assumptions ofnpartial equilibrium and perfect competition
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Piero Sraffa an Italian economist presented a critique of the Marshallian industry supply curve based on diminishing returns under the general case Sr...Get Instant Access to Expert-Tailored Solutions
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