%0 Journal Article
%T Theory on the Functions of A Firm: A Resolution to Smith¡¯s Dilemma
%A Zhong-Yuan Han
%A Shu-Lin Wang
%J Journal of Management and Strategy
%D 2012
%I 
%R 10.5430/jms.v3n1p18
%X Based on Stigler¡¯s (1951) conjecture, this article reproves the Smith theorem (the division of labor is limited by the extent of the market), via a framework of perfect competitive market, consequently offering a solution to Smith¡¯s dilemma which usually refers to the incompatibility between the Smith theorem and the theory of competitive price.
%U http://www.sciedu.ca/journal/index.php/jms/article/view/757