Equilibrium in Various Market Situations

Abstract

It was shown at the beginning of Chapter 9 how the costs of the individual large contract obtained at a single point in time but with work spread over a long period are relevant to the usual cost curves of economic analysis which represent the answer to the question: If the output of the firm were higher or lower than a given level, what would be the effect on costs? The remainder of the chapter was devoted to a detailed consideration of this question.