Output-flexibility's welfare effects are analyzed in two propositions involving linear total cost curves and absolute capacity limits. This paper demonstrates that, in a setting of competitive manufacturing, the conditions for two technologies to coexist are that the other is more...

The principal hypothesis of this paper is that the U.S. cement industry for most of the sixties and seventies can serve as an instance of John M. Clark's concept of too strong competition. This paper argues that the mainstream academic view--notably that of S. M. Loescher and F. M....

I present an original model of competitive manufacturing with fluctuating demand and diverse technology with mathematical proofs. I discuss Aranoff's output-flexibility indicator, E(AC)-LRMC. I use the model to compute Aranoff's output-flexibility indicator to measure industry...