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texto impreso
In this paper we attempt to rationalize markups in a sample of Spanish manufacturing by assuming a representative consumer, proft-maximizing firms and constant returns to scale. We find that the standard forms of demand (CES and linear) do not p[...]texto impreso
We show that if there are Constant Returns to Scale in the production of the public good a) Any Lindahl equilibrium (L.E) is a Nash equilibrium (N.E.) in a price-setting game, b) not all N.E. are L.E., but just those for which the production of [...]
