The cost function given imperfectly flexible capital

Robert A. Becker*, Daniel F. Spulber

*Corresponding author for this work

Research output: Contribution to journalArticle

1 Scopus citations


The properties of the firm's cost function are examined when investment is irreversible and there are costs of capital adjustment. The effects of the firm's initial capital stock on total, marginal and average costs are analysed.

Original languageEnglish (US)
Pages (from-to)197-204
Number of pages8
JournalEconomics Letters
Issue number3-4
Publication statusPublished - Jan 1 1984


ASJC Scopus subject areas

  • Economics and Econometrics
  • Finance

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