Cheung, Waka; Ng, Yew-Kwang - In: Studies in Microeconomics 1 (2013) 2, pp. 243-266
A Hotelling long-run equilibrium model based on the microeconomics of optimization is developed to analyze the impact of market scale on specialization and standardization. Among our conclusions is that the degree of vertical division of labour and the number of varieties produced in a...