Maybe our differences are just semantic. It is possible because of the sunk costs but that is irrelevant. The decision would be the same if it were dropped by space aliens.
But if this does not make my understanding clear, we don't need to go on. The difference is too small to be of any great import. On Thu, Sep 03, 2009 at 08:07:22PM -0400, Ann Davis wrote: > > Except that the bridge at "10% of normal cost" is only possible because > of the sunk costs (either the owner or a seller of a 90% complete > bridge), and discrete vs. continuous production functions. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu michaelperelman.wordpress.com _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
