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Losch's Single-Good Equilibrium

Gordon F. Mulligan
Annals of the Association of American Geographers
Vol. 71, No. 1 (Mar., 1981), pp. 84-94
Stable URL: http://www.jstor.org/stable/2562685
Page Count: 11
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Losch's Single-Good Equilibrium
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Abstract

Following Losch's original arguments, much attention has been given to clarifying the properties of spatial equilibrium for a single good (industry). Many contemporary analysts have, however, misrepresented the adjustment process that is compatible with the Loschian equilibrium. The limited solutions advanced for various equilibrium market area characteristics have been iterative in form and often incorrect in content. This paper clarifies various properties of the Loschian equilibrium and then outlines a general method for determining exact equilibrium market area characteristics (price, output, market area radius, and firm density). The nonspace-filling cases are considered in the analysis.

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