The Ptolemy in mainstream economics Perfect competition… So the demand curve P(q) for the single firm is flat, so thatdP/dq=0.
{"Image DocumentName": "The Ptolemy in mainstream economics", "Image ImageDescription": "Perfect competition\u2026 So the demand curve P(q) for the single firm is flat, so thatdP/dq=0? Not according to Stigler\u2026 where. So without strategic interaction (i.e. Cournot or Bertrand competition) Demand curve for competitive firm has same slope as market demand curve. Marshallian Perfect competition a mathematical error. Cournot equilibrium locally unstable (mathematically, & not equilibrium in repeated games) See Keen & Standish 2010.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}