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Negative Marginal Cost and Disposal: Implications for the Theory of the Firm

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  • Glustoff, Errol
  • Wickham, Elizabeth

Abstract

Consequences of a falling total variable cost curve due to negative input prices or inferiority are examined. Introducing positive disposal costs leads to the uncommon result that output may increase when disposal of output ceases to be free and sales may fall short of the actual output produced. Copyright 1991 by Blackwell Publishers Ltd/University of Adelaide and Flinders University of South Australia

Suggested Citation

  • Glustoff, Errol & Wickham, Elizabeth, 1991. "Negative Marginal Cost and Disposal: Implications for the Theory of the Firm," Australian Economic Papers, Wiley Blackwell, vol. 30(56), pages 164-169, June.
  • Handle: RePEc:bla:ausecp:v:30:y:1991:i:56:p:164-69
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    References listed on IDEAS

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    1. Samuelson, Paul A, 1978. "The Canonical Classical Model of Political Economy," Journal of Economic Literature, American Economic Association, vol. 16(4), pages 1415-1434, December.
    2. T. W. Swan, 1962. "Circular Causation," The Economic Record, The Economic Society of Australia, vol. 38(84), pages 421-426, December.
    3. Costabile, Lilia & Rowthorn, Bob, 1985. "Malthus's Theory of Wages and Growth," Economic Journal, Royal Economic Society, vol. 95(378), pages 418-437, June.
    4. Malthus, Thomas Robert, 1798. "An Essay on the Principle of Population," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number malthus1798, December.
    5. George J. Stigler, 1952. "The Ricardian Theory of Value and Distribution," Journal of Political Economy, University of Chicago Press, vol. 60, pages 187-187.
    6. Lloyd, Peter J, 1969. "Elementary Geometric/Arithmetic Series and Early Production Theory," Journal of Political Economy, University of Chicago Press, vol. 77(1), pages 21-34, Jan./Feb..
    7. Malthus, Thomas, 2008. "An Essay on the Principle of Population," OUP Catalogue, Oxford University Press, number 9780199540457 edited by Gilbert, Geoffrey.
    8. Costabile, Lilia, 1983. "Natural Prices, Market Prices and Effective Demand in Malthus," Australian Economic Papers, Wiley Blackwell, vol. 22(4), pages 144-170, June.
    9. A. M. C. Waterman, 1988. "Hume, Malthus, and the Stability of Equilibrium," History of Political Economy, Duke University Press, vol. 20(1), pages 85-94, Spring.
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    Cited by:

    1. Andrea Vaona, 2016. "A nonparametric panel data approach to the cyclical dynamics of price-cost margins in the fourth Kondratieff wave," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 6(2), pages 155-170, August.
    2. Vaona, Andrea, 2010. "A nonparametric panel data approach to the cyclical dynamics of price-cost margins," Kiel Working Papers 1580, Kiel Institute for the World Economy (IfW).

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