Competition, Monopoly, and Differential Profit Rates: On the Relevance of the Classical and Marxian Theories of Production Prices for Modern Industrial and Corporate Pricing

Presents a framework for the interpretation of the empirical phenomena of modern industrial and corporate pricing and profits through a reinterpretation of classical and Marxian theories and concepts of long-run prices and profits. Also discusses how modern empirical findings can be reconciled with the classical and Marxian theories of competition, production prices, and average profit rates.