Eradicating Edward Chamberlin's U-Curve

ebook Profit Economics Series

By Hak Choi

cover image of Eradicating Edward Chamberlin's U-Curve

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Standard theory of the firm derives maximum profit by equating price with marginal cost. Edward Chamberlin brought in a U-shaped average total cost curve, to reduce the firm's profit or even turn it into a loss. This book eradicates Chamberlin's U-curve, resolves all his chaos and honors capital's contribution.

Eradicating Edward Chamberlin's U-Curve