Introduction The transformation function for two‐sector production models has been used extensively in the international trade and general equilibrium literature. It has been derived both graphically and mathematically from individual sector production functions that are assumed to be linearly...

This paper analyzes the welfare implications of price regulation in competitive market structures. The analysis is performed in a general equilibrium framework where individuals are producers of the goods they consume. These produced goods in the economy are designated as good A, good B, and q,...

Time is an important determinant of factor demand and supply elasticities in producer theory. The typical textbook distinction between the short‐run and the long‐run focuses upon the ability of the decision‐maker to adjust fixed factors. Indeed, the length of the firm's planning horizon...

Utilizing a general equilibrium framework, this paper studies the economic effects of product-quality regulation in competitive ma rket structures. The analysis considers both the short-run and long-r un implications of such regulation upon factor rewards and allocation s and upon product price....

The focal point in the recent literature on international trade and monopolistic competition is to recast the Chamberlinian partial equilibrium theory in a general equilibrium framework. Using a similar setting, this paper asks whether the Chamberlinian tangency solution is stable under general...