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Published in:
2000 | OriginalPaper | Chapter
Equilibrium in Various Market Situations
Author : Patricia M. Hillebrandt
Published in: Economic Theory and the Construction Industry
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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It was shown at the beginning of Chapter 10 how the costs of the individual large contract, obtained at a single point in time but with work spread over a long period, are relevant to the usual cost curves of economic analysis which represent the answer to the question: If the output of the firm were higher or lower than a given level, what would be the effect on costs? The remainder of the chapter was devoted to a detailed consideration of this question.