Market Structure, Competition, and Equilibrium in Electronic Commerce Setting
نویسندگان
چکیده
This paper examines the market structure and mechanism of electronic commerce from a microeconomic perspective. There are many similarities between electronic commerce setting and classical competitive market structure. The paper argues that one can attain an equilibrium in an electronic commerce setting in which supply and demand are converged at a level that maximizes firm’s revenue and consumer’s utility. Consequently, the convergence will assure an efficient allocation of economic resources.
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