Chapter

The Firm in Theory

Edith Penrose

in The Theory of the Growth of the Firm

Third edition

Published in print September 1995 | ISBN: 9780198289777
Published online November 2003 | e-ISBN: 9780191596759 | DOI: http://dx.doi.org/10.1093/0198289774.003.0002
 The Firm in Theory

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This chapter discusses the nature of the ‘firm’ in the ‘theory of the firm’, to indicate why it provides an unsuitable framework for a theory of the growth of firms. It explores the firm as an administrative organisation, the firm as a collection of productive resources, and the motivations of the firm. The ‘firm’ in the theory of price and production is also considered.

Keywords: firms; theory of growth; economics

Chapter.  10282 words. 

Subjects: Microeconomics

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