This note gives a method that can sometimes be used to find the long-run equilibrium output of a firm operating under imperfect competition and which differs from standard methods of output determination. Let X be a product supplied under oligopoly or monopolistic competition and suppose that,...

While the North Korean economy has emerged from a decade of negative growth, it is uncertain if the recovery is sustainable. This paper surveys the path the economy has taken, examines the issues of food, energy and foreign trade, and presents its prospects for the future.

We analyse a monopolist’s choice of product diversity and the effects of retailer countervailing power on that choice. We show that monopoly causes distortion in product diversity even after we take into consideration the effects of monopoly pricing. Specifically, the number of differentiated...