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The Cost Function with Imperfectly Flexible Capital, Economics Letters

Abstract

The properties of the firm's cost function are examined when investment is irreversible and there are costs of capital adjustment. The effects of the firm's initial capital stock on total, marginal and average costs are analysed.

Type

Article

Author(s)

Robert A Becker, Daniel Spulber

Date Published

1984

Citations

Becker, A Robert, and Daniel Spulber. 1984. The Cost Function with Imperfectly Flexible Capital. Economics Letters. 16(3-4): 197-204.

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