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Wednesday, July 12, 2006. THE CONCEPT OF AN INDUSTRY. Book uses partial equilibrium approach. Basis of the approach INDUSTRY. Importance of the concept of an industry. Concept important for economic analysis. Important in the study of competition. Reasons for its importance. B Helps to derive a set of general rules to predict behavior of competing members of the group making up the industry. C Helps to analyze effects of entry of a firm on existing firms, equilibrium price and equilibrium output.

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pg economics

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Wednesday, July 12, 2006. THE CONCEPT OF AN INDUSTRY. Book uses partial equilibrium approach. Basis of the approach INDUSTRY. Importance of the concept of an industry. Concept important for economic analysis. Important in the study of competition. Reasons for its importance. B Helps to derive a set of general rules to predict behavior of competing members of the group making up the industry. C Helps to analyze effects of entry of a firm on existing firms, equilibrium price and equilibrium output.

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This web page pgeconomics.blogspot.com states the following, "Wednesday, July 12, 2006." We saw that the webpage said " THE CONCEPT OF AN INDUSTRY." It also said " Book uses partial equilibrium approach. Basis of the approach INDUSTRY. Importance of the concept of an industry. Concept important for economic analysis. Important in the study of competition. B Helps to derive a set of general rules to predict behavior of competing members of the group making up the industry. C Helps to analyze effects of entry of a firm on existing firms, equilibrium price and equilibrium output."

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