Resource title

The short-run approach to LRMC pricing for multiple outputs with nondifferentiable costs

Resource image

image for OpenScout resource :: The short-run approach to LRMC pricing for multiple outputs with nondifferentiable costs

Resource description

Using convex calculus, we extend the Wong-Viner Theorem to nondifferentiable costs by equating the capital inputs' rental prices to their profit-imputed marginal values. Thus extended, the short-run approach to LRMC pricing is applied to peak-load pricing with storage.

Resource author

Resource publisher

Resource publish date

Resource language

en

Resource content type

application/pdf

Resource resource URL

http://eprints.lse.ac.uk/19338/1/The_Short-Run_Approach_to_LRMC_Pricing_for_Multiple_Outputs_with_Nondifferentiable_Costs.pdf

Resource license