Abstract
My research so far, which reveals fundamental mistakes of the conventional (neoclassical) economic theory, is based mainly on the (wrong) perception of this theory for the price taking and the horizontal demand curve for the firm, using instead the correct individual demand curve for the firm, which is sloping and equal to the total demand divided by the number of firms for each price. Despite the great readability and vivid academic interest that my relevant papers have caused, I feel some difficulties regarding the acceptance of the revised theory and perhaps even its understanding, due to physiological addiction and adherence to traditional theory and methodology. This article, however, demonstrates these mistakes of conventional theory by using the methodology of the conventional theory itself, without getting involved in the controversial issue of the horizontal or sloping demand curve for the firm.
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