Market Behaviour Part 2
By Steven Keen - University of Western Sydney
-
275
- Report An Inaccuracy In Lecture Information:
Lecture Description
In this half of the lecture, I show that even if there was a downward-sloping demand curve, Neoclassical supply and demand analysis is still invalid because:
(a) Equating marginal cost and marginal revenue doesn't maximize profits; and
(b) A market supply curve can't be derived independently of the demand curve.
Course Index
Show:
