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Exploring the Relation between Returns to Scale and Pecuniary Economies/Diseconomies

Lila J. Truett and Dale B. Truett
The Journal of Economic Education
Vol. 26, No. 2 (Spring, 1995), pp. 140-149
Published by: Taylor & Francis, Ltd.
DOI: 10.2307/1183369
Stable URL: http://www.jstor.org/stable/1183369
Page Count: 10
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Exploring the Relation between Returns to Scale and Pecuniary Economies/Diseconomies
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Abstract

This article examines the behavior of long-run average cost when the firm knows it faces pecuniary economies or diseconomies of scale and has other than a constant-returns-to-scale production function. The central issue is the conditions under which the scale properties of the production function will or will not dominate the pecuniary effects of changing input prices.

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