Peck by twetch#622

twetch#622 6.5y

1Eyk15…d43C Key · twetch

Markets have an equilibrium structure determined primarily by two factors:

How differentiated the goods are within the market being analyzed
How diversified the production structure must be to service all differentiations of goods in that market

What the chain says

Transaction: f4b72ec168bc101a42e09bf0bb82afa1925ccb28669341d0358a4d6b105e099a
Block: 630 673
Time: 2020-04-15T05:36:43Z
Signer: 1Eyk15KEeYX9JwH8e98pqpX3kTUuY9d43C
App: twetch
Type: post
Content type: text/plain
Name in tx: twetch#622

Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.

Signed by 1Eyk15KEeYX9JwH8e98pqpX3kTUuY9d43C Verified

Replies (4)

twetch#622 6.5y

1Eyk15…d43C Key · twetch

Replying to@1Eyk15…d43C

When the market has minimal differentiation of goods, there will be a minimal number of firms providing those goods.

twetch#622 6.5y

1Eyk15…d43C Key · twetch

Replying to@1Eyk15…d43C

When the market has massive differentiation of goods, but a single production structure can service all differentiations more or less equally, there will be a minimal number of firms providing those goods.

twetch#622 6.5y

1Eyk15…d43C Key · twetch

Replying to@1Eyk15…d43C

When the market has massive differentiation of goods, and specialized production structures are required to produce the goods in that market, then there will be at least as many firms as there are specialized production structures to service that market.

twetch#622 6.5y

1Eyk15…d43C Key · twetch

Replying to@1Eyk15…d43C

This is one of the most important lessons you can learn in economics if you are in business, whether as an entrepreneur or otherwise.

Do not ignore it, and do not underestimate its value.

Post by twetch#622

Replies (4)