Publication: Journal of Economic Education
Volume: Volume 19, No. 4
Issue: Fall 1988
Pages: pp. 331-335
Author(s): Christopher Ross Bell (Davidson College)
Title: Economies of, versus Returns to, Scale: A Clarification
Abstract: Textbook discussions of the shape of the long-run average cost-curve are misleading because they do not accurately or properly distinguish between returns to scale and economies of scale. The differences and their implications are identified and explained.