Rothbard on V Shaped Average and Total Cost Curves

The Quarterly Journal of Austrian Economics

Tags: Production Theory

07/30/2014 Quarterly Journal of Austrian Economics William Barnett II Walter Block

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Volume 9, No. 3 (Fall 2006)

Rothbard (1993, pp. 638–45) refuted the important economic fallacy that excess capacity is a normal consequence of profit maximizing behavior by businesses in some industries when they are in long-run equilibrium. And, in so doing provided a manifest example of misuse of mathematics in modern economics.

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Barnett, William II and Walter Block. “Rothbard on V Shaped Average and Total Cost Curves.” The Quarterly Journal of Austrian Economics 9, No. 3 (Fall 2006): 61–66.

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