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Tests of perverse input demand behavior by the rate-of-return-regulated firm

โœ Scribed by Charles Ofori-Mensa

Book ID
113248572
Publisher
Elsevier Science
Year
1990
Weight
610 KB
Volume
12
Category
Article
ISSN
0165-0572

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๐Ÿ“œ SIMILAR VOLUMES

Capital waste in the rate-of-return regu
Capital waste in the rate-of-return regulated firm
โœ Roger Sherman ๐Ÿ“‚ Article ๐Ÿ“… 1992 ๐Ÿ› Springer US ๐ŸŒ English โš– 486 KB

Here it is shown how capital waste can be motivated under rate-of-return regulation, even when the marginal product of capital is positive. This result means that the sign of the marginal product of capital is not adequate as a basis for defining waste. The wasteful use of capital is motivated to av