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