Articles
Cyclicall Possibilities of Monopolistically Competitive Market Model

C. Saratchand

Volume 37, Issue 2

Abstract

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A dynamic model of monopolistic competitive industry is set out which is based on standard textbook formulations of a linear demand function and cubic cost function. The existence of the equilibrium, local stability and comparative dynamic properties of the model are set out. The Hopf Bifurcation theorem is employed to establish the possibility of cycles in the model.