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marginal cost linear programming 1
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PIERRU, Axel 1
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Institut de Recherche Économique et Sociale (IRES), École des Sciences Économiques de Louvain 1
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Short-run and long-run marginal costs of joint products in linear programming
PIERRU, Axel - Institut de Recherche Économique et Sociale (IRES), … - 2007
In standard microeconomic theory, short-run and long-run marginal costs are equal for production equipment with adjusted capacity. When the production of joint products from interdependent equipment is modeled with a linear program, tins equality is no longer verified. The short-run marginal...
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