Quarterly Journal of Austrian Economics
Rothbard on V Shaped Average and Total Cost Curves
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.
Cite This Article
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.