Marshallian External Economies

Research output: Contribution to journalArticle

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.
Original languageEnglish
Pages (from-to)454-458
Number of pages5
JournalEconomic Journal
Volume103
Publication statusPublished - Mar 1993

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