ABSTRACT
For potential exporters deciding what level of output to produce
other than those induced by exchange policies; the fact that world prices,
domestic demands and factor supplies, and technological changes may have
the degree of uncertainty attaching to any of these other variables
others, the theory of the firm under uncertainty was for a long time one
of the more neglected areas of microeconomic theory. Recent contributions
by Sandmo and others, however, have done much to develop this area of
using the idea of a "random demand curve," a concept introduced by
Leland. 1
Section 2-2 examines a conjecture made by Sandmo that a decrease
model, and the chapter concludes with a generalization of the theory to
more than one market.
