Quarterly Journal of Austrian Economics

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Rothbard on V Shaped Average and Total Cost Curves

  • The Quarterly Journal of Austrian Economics
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Tags Production Theory

07/30/2014William Barnett IIWalter Block

 

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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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.

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