Borland, Melvin V.; Howsen, Roy M. - In: The Journal of Economic Education 40 (2009) 3, pp. 272-277
The typical profit-maximization solution for the joint-production problem found in intermediate texts, managerial texts, and other texts concerned with optimal pricing is oversimplified and inconsistent with profit maximization, unless there is either no excess of any of the joint products or no...