I agree with Anders' take on competetion. One other point.
The way I explain it to my classes is that product competition is
deflationary. Competitive pressure from the input side (higher wages or
resource costs) is not & can still push business to do better.
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu
michaelperelman.wordpress.com
_______________________________________________
ope mailing list
ope@lists.csuchico.edu
https://lists.csuchico.edu/mailman/listinfo/ope
Received on Tue Nov 11 18:55:09 2008
This archive was generated by hypermail 2.1.8 : Wed Dec 03 2008 - 15:07:39 EST