On Optimal Returns to a Factor

D. Chappell and David Peel
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D. Chappell: University of Sheffield

No 1981026, Discussion Papers (REL - Recherches Economiques de Louvain) from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Abstract: The purpose of this note is to show that a firm operating in perfectly competitive markets but facing costs of adjustment to its sole variable input (labour) may well prefer to operate in a region of the production function in which the output elasticity of labour is greater than unity (i.e. increasing returns to labour).

Pages: 5
Date: 1981-06-01
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