GROUNDS FOR SUPPLY FUNCTION OF EQUILIBRIUM PRICE THEORY
The article considers the definition of supply function of equilibrium price theory. The author illustrates the differences in mechanisms of supply formation and change in the theory by Marx and the equilibrium price theory. The definition of law of supply in the equilibrium price theory is opposed by the definition of supply law in the theory by Marx.
Keywords: equilibrium price theory, supply function, microeconomics mechanisms of supply formation,
inter-industry competition, motives of manufacturers’ behavior, supply law.
Victor M. Melkumyan, candidate of Economics, associate professor of Moscow City Pedagogical University.