Non-convex cost and the behaviour of inventories: some disaggregate results

Erkin Bairam

Applied Economics Letters, 1996, vol. 3, issue 11, 687-691

Abstract: The disaggregate results reported here show that the marginal costs are increasing over time and, therefore, the main foundation of the law of supply is still valid. This implies that some other explanation has to be found to explain why firms bunch rather than smooth production.

Date: 1996
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DOI: 10.1080/135048596355664

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