Nature of Competition: Why to Join Forces
Economy as collective noun of economic activities (M ∙ U ∙ T -1 in dimensions) begins with the cost-benefit analysis at the marginal step (T -1 ) associated with a unit of utility (M ∙ U). The kind and the degree of the marginal unit are conceived to be “unitary.” In practice, however, such a unit is not necessarily real. There exist many kinds of things naturally lumpy in quantity and heterogeneous in quality. We join forces (JF) mostly for those reasons, further subject to a strict and stringent cost-benefit analysis The unit in the market. We once again clarify the nature of marginal thinking particularly in the market. Demand is for consumption of four members per household per accounting period. Supply is from production over the same period at the firm with a single workshop. Otherwise, the principles of diminishing marginal benefit from consumption and increasing marginal cost of production do not apply. ...