Marshallian External Economies

Renee Prendergast

Economic Journal, 1993, vol. 103, issue 417, 454-58

Abstract: This paper argues that, in the absence of indivisibilities, the expansion of an industry cannot generate economies of scale unless individual firms introduce the same change s in the way they carry out their activities. In the absence of some plausible focusing device, there is no good reason to expect this to happen. Copyright 1993 by Royal Economic Society.

Date: 1993
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