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Lumpy Demand and the Diagrammatics of Aggregation
Shmanske, Stephen, (1999)
Lumpy demand and the diagrammatics of aggregation
CONTENT ARTICLES IN ECONOMICS - Lumpy Demand and the Diagrammatics of Aggregation - The authors illustrate how a simple discontinuity in an individual's demand curve or inverse demand curve affects the shape of market aggregate curves. For private goods, the diagrams show that an infinitesimal change in quantity can lead to large changes in consumption patterns. For collective goods, the analysis ...