The Viner-Wong Envelope Theorem

Publication: Journal of Economic Education

Volume: Volume 30, No. 1

Issue: Winter 1999

Pages: 75-79

Author(s): Eugene Silberberg (University of Washington, Seattle)

Address (Principal Author):Department of Economics, University of Washington, Box 353330, Seattle, WA 98195-3330, (206) 543-8664, fax (206) 685-7477

Internet Address (Principal Author):silber@u.washington.edu

Title: The Viner-Wong Envelope Theorem

Abstract: A diagram makes clear the point at which the short-run and long-run marginal costs are equal, with fixed capital. Likewise, the point at which the rate of change in average cost is the same in the short-run and long-run is made evident