Industrial economics is at an important stage in its development. Increasing refinements to the techniques first developed in the late nineteenth century (marginal analysis) led many economists to believe that they had an analytical framework capable of providing answers to most of the problems of industrial economics. In recent years, doubts have crept in. Controversies now surround many of the central areas of investigation, and the ‘traditional’ approach increasingly faces re-examination and reevaluation.
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