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ERIC Number: EJ845952
Record Type: Journal
Publication Date: 2009
Pages: 5
Abstractor: As Provided
Reference Count: 3
ISBN: N/A
ISSN: ISSN-0022-0485
Course Presentation of the Joint-Products Problem with Costs Associated with Dumping
Borland, Melvin V.; Howsen, Roy M.
Journal of Economic Education, v40 n3 p272-276 Sum 2009
The typical profit-maximization solution for the joint-production problem found in intermediate texts, managerial texts, and other texts concerned with optimal pricing is oversimplified and inconsistent with profit maximization, unless there is either no excess of any of the joint products or no costs associated with dumping. However, it is an inappropriate method of solution where excess does exist and the costs of dumping are explicitly recognized and, with respect to such cases, is at least nongeneral. The authors present a more realistic alternative method of solution, although more complex, as a substitute for the textbook method of solution typically offered. (Contains 1 table and 5 notes.)
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Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A