MARKET STRUCTURE AND SOCIAL WELFARE

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MARKET STRUCTURE AND SOCIAL WELFARE

In The Pascal sense if a policy change makes at least one individual better without making anyone rose off II is said to maxi miss social welfare Let. us see how this social optimum can be attained under  different market structures In this connection we shall examine the possibility of attaining maximum  social welfare under perfect competition. the monopoly the monopolist competition and oligopoly.

Dynamic Entrepreneurship

gnomic growth of the country. This was specially underlined by  by Schumpeter who  thought that the entrepreneur  played a key rule in economic development. Even   earl Marx had emphasized the fact that in trying  to widen the profit margin by   adopting new technology  and improved methods of production the entrepreneur  in   act makes an important contribution to economic growth.

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MARKET STRUCTURE AND SOCIAL WELFARE