The Short- and Long-Run Marginal Cost Curve : A Pedagogical Note

The standard textbook description of relationship between the LRMC and the SRMC for output levels below the optimum for a particular plant size is typically misleading and imprecise. Students are frequently confused as to how the SRMC can ever be below the LRMC since everything is variable in the long run. We clarify the reasoning in ways that have intuitive appeal

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Year of publication:	2010
Authors:	Sexton, Robert L. ; Graves, Philip E. ; Lee, Dwight
Publisher:	[S.l.] : SSRN

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Extent:	1 Online-Ressource (4 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Journal of Economic Education, Vol. 24, No. 1, pp. 34-37, Winter 1993 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments Winter 1993 erstellt
Classification:	A22 - Undergraduate ; A23 - Graduate
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014199550