ABSTRACT
AFTER our discussion in the last four chapters of the individual price makers problems and market behavior, we can now proceed to consider in its entirety the market in which price makers compete among themselves and face the price takers on the other side of the market. We saw already in Chapter II that for such a market to come about, there must be a disparity in numbers between buyers and sellers; and the people on the side with the larger numbers must be inexpert in their market behavior. We shall now discuss the nature and condition of inexpertness in greater detail; and we shall begin by contrasting the market where price makers face price takers with the perfectly competitive market, in which both the buyers and the sellers are price takers.
