Price Flexibility and the “Degree of Monopoly”

Abstract

Introduction: two approaches to the problem, 522. — I. Rigidity as a relative concept, 522; as a characteristic of the total system of prices, 524; as an indication of the degree of monopoly, 525. — Measurement of the degree of monopoly, 526. — II. The method employed: average prime costs vs. marginal costs, 527. — The statistical technique, 529. — Analysis of the data, 530.