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Peer reviewedVaage, Gjermund; Kohn, Robert E. – Journal of Economic Education, 1998
Examines two classes of production functions in which the long-run competitive equilibrium scale of the firm increases when the relative price of the dominant factor decreases. Compares these with a third class of production functions where the equilibrium scale is independent of the relative price of the dominant factor. (MJP)
Descriptors: Business Cycles, Causal Models, Competition, Cost Indexes
