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A ‘Representative’ Model of Average-Cost Pricing

In: Modern Microeconomics

Author

Listed:
  • A. Koutsoyiannis

    (University of Waterloo)

Abstract

Average-cost pricing models have been developed by various writers.1 Their basic characteristic is the postulate that price is set according to the average-cost principle The firm sets a price equal to its total average cost which includes a certain net profit margin. This pricing behaviour is assumed by the writers in this field to be different than the marginalist behaviour of the traditional theory of the firm. We will return to this point in section IV of this chapter, where we attempt to compare the average-cost theories with other theories of the firm.

Suggested Citation

  • A. Koutsoyiannis, 1975. "A ‘Representative’ Model of Average-Cost Pricing," Palgrave Macmillan Books, in: Modern Microeconomics, chapter 12, pages 271-281, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-349-15603-0_12
    DOI: 10.1007/978-1-349-15603-0_12
    as

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