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On the Treatment of Fixed and Sunk Costs in the Principles Textbooks

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  • David Colander

Abstract

The author argues that, although the standard principles level treatment of fixed and sunk costs has problems, it is logically consistent as long as all fixed costs are assumed to be sunk costs. As long as the instructor makes that assumption clear to students, the costs of making the changes recently suggested by X. Henry Wang and Bill Z. Yang in the Journal of Economic Education are greater than the benefits.

Suggested Citation

  • David Colander, 2004. "On the Treatment of Fixed and Sunk Costs in the Principles Textbooks," The Journal of Economic Education, Taylor & Francis Journals, vol. 35(4), pages 360-364, October.
    • Handle: RePEc:taf:jeduce:v:35:y:2004:i:4:p:360-364
    DOI: 10.3200/JECE.35.4.360-364
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    Cited by:

    1. Jane E. Ihrig & Scott A. Wolla, 2020. "Let's Close the Gap: Revising Teaching Materials to Reflect How the Federal Reserve Implements Monetary Policy," Finance and Economics Discussion Series 2020-092, Board of Governors of the Federal Reserve System (U.S.).
    2. Xi Chen & Bertrand M. Koebel, 2017. "Fixed Cost, Variable Cost, Markups and Returns to Scale," Annals of Economics and Statistics, GENES, issue 127, pages 61-94.
    3. Scott Wolla, 2018. "The Textbook Treatment of Net Exports: Will the Uninformed Reader Understand?," Journal of Economics Teaching, Journal of Economics Teaching, vol. 3(2), pages 232-253, December.
    4. Jane S. Lopus & Lynn Paringer, 2011. "The Principles of Economics Textbook: Content Coverage and Usage," Chapters, in: Gail M. Hoyt & KimMarie McGoldrick (ed.), International Handbook on Teaching and Learning Economics, chapter 28, Edward Elgar Publishing.

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