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On Optimal Returns to a Factor

Author

Listed:
  • D. CHAPPELL

    (University of Sheffield)

  • D.A. PEEL

    (University of Liverpool)

Abstract

The purpose of this note is to show that a firm operating in perfectly competitive markets but facing costs of adjustment to its sole variable input (labour) may well prefer to operate in a region of the production function in which the output elasticity of labour is greater than unity (i.e. increasing returns to labour).

Suggested Citation

  • D. Chappell & D.A. Peel, 1981. "On Optimal Returns to a Factor," Discussion Papers (REL - Recherches Economiques de Louvain) 1981026, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    • Handle: RePEc:ctl:louvre:1981026
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