His review of Cournot and Edgeworth does not get down to bedrock, 318.— Difficulties in his treatment of foresight (1) under conditions of decreasing variable costs, 319; the argument expressed in terms of the symbols of Cournot, 323; (2) under unequal conditions of increasing cost, 325; diagrammatic presentation, 333; nine points of conflict with his conclusions, 335.

Two extreme views of marginal buyers, 121.— Professor Hotelling's case, 122.— Professor Chamberlin fails to recognize their importance, 122.— Another view of the same situation, 123.— Effect on his conclusions, 126.— Another possibility under differentiation of product, 129.— A further stage: competitors still more numerous, 132.— Conclusions, 134.