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You are here: Home / Intro Econ / Market efficiency

June 26, 2017 by jagfnz Leave a Comment

Market efficiency

There are many texts in undergrad microeconomics , but few as good as David Kreps’s Microeconomics for Managers.

here in Chapter 12 he provides a solid  exposition of consumer and producer suprlus  using the basic  competitive model and how demand and supply in competitive markets (with no externalities)  interact to create efficient (aggregate value maximizing) outcomes.

Kreps’ ch 12 market efficiency

 

 

 

 

Filed Under: Intro Econ, managerial economics, MicroEcon Principles

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