{"title":"Disproving the U-Shaped Production Theory","authors":"Hak Choi","doi":"10.2139/ssrn.2725295","DOIUrl":null,"url":null,"abstract":"This paper changes the traditional view of the U-shaped average cost model. It also changes the view about fixed cost. A fixed cost, which comes with a fixed capital, may increase the initial value of the total average cost, but its positive impact on output and profit is more significant. The U-shaped AC curve or its cascade is refuted.","PeriodicalId":237187,"journal":{"name":"ERN: Production; Cost; Capital & Total Factor Productivity; Value Theory (Topic)","volume":"99 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2016-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"ERN: Production; Cost; Capital & Total Factor Productivity; Value Theory (Topic)","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.2725295","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0
Abstract
This paper changes the traditional view of the U-shaped average cost model. It also changes the view about fixed cost. A fixed cost, which comes with a fixed capital, may increase the initial value of the total average cost, but its positive impact on output and profit is more significant. The U-shaped AC curve or its cascade is refuted.
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