Price decisions and employment equilibrium
Instead of expected profit maximization, this paper assumes a safety-first objective so that the firm will set a higher price for its product if cost or demand is higher, which has macroeconomic implications. With all firms in the economy as price setters, there is an equilibrium of prices which ent...
| Published in: | The Philippine Review of Business and Economics Vol. XXV, Nos. 3 & 4 (September & December 1988), p. 243-253. |
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| Main Author: | |
| Format: | Analytics |
| Language: | English |
| Published: |
1988.
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| Subjects: |