Interesting additions to the theory of decreasing costs have been made in recent numbers of the Economic Journal by Mrs. Robinson 1 and Mr. Shove; 2 complete precision in this field is almost within our grasp; certain obscurities, however, remain to be cleared up. In particular Mr. Shove’s criticism 3 of Mrs. Robinson has brought to light some difficulties connected with her conception of a normal rate of profit.
KeywordsDemand Curve Cost Curve Negative Gradient Imperfect Competition Total Average Cost
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