10.8 In a famous article [J. Viner, Cost Curves and Supply Curves, Zeitschrift fur Nationalokonomie 3 (September...

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10.8 In a famous article [J. Viner, ‘‘Cost Curves and Supply Curves,’’ Zeitschrift fur Nationalokonomie 3 (September 1931): 23–46], Viner criticized his draftsman who could not draw a family of SAC curves whose points of tangency with the U-shaped AC curve were also the minimum points on each SAC curve. The draftsman protested that such a drawing was impossible to construct. Whom would you support in this debate?

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Microeconomic Theory Basic Principles And Extension

ISBN: 9781111525538

11th Edition

Authors: Walter Nicholson, Christopher M. Snyder

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