chapter  3
10 Pages

Theories of market equilibrium: Peston and Yamey

Three theories of market equilibrium will be dealt with in chapters 3 and 4: those of Peston and Yamey, Brennan and Telser. The first of these will be discussed in this chapter and the last two in the following chapter. In part, the theories of Brennan and Telser treat the question of market equilibrium in a similar way, and to this extent they are given a common discussion.