This paper shows that (i) fixed costs of sufficient magnitude assure the existence of a vector of sustainable prices for the products of a natural monopolist—prices making him invulnerable against entry; (ii) nevertheless, fixed costs do not constitute barriers to entry; that is, they need not have undesirable welfare consequences; (iii) indeed, in market forms that we call perfectly contestable large fixed costs are completely compatible with many desirable attributes of competitive equilibrium; (iv) sunk costs do, however, constitute barriers to entry; and (v) finally, the profit and welfare consequences of entry barriers are described formally.

In this paper, a single graphic presentation is used to identify and demonstrate the interrelationships among the alternatives and activities relevant to the business combination transaction and to post-combination operations and financial statements. Also, generalized formats for recording combination transactions are presented and discussed. Finally, the paper discusses the ways in which the instructor can use the graphic presentation to make the business combination process more understandable to students.

Reviews the book "Instrumental Reasoning and Systems Methodology: An Epistemology of the Applied and Social Sciences," by Richard Mattessich.

In this paper [the authors discuss] five procedures for incorporating demographic variables into theoretically plausible demand systems: translating scaling and the Gorman reverse Gorman and implicit Prais-Houthakker procedures.... These five procedures are used to incorporate a single demographic variable--the number of children in a household--into the generalized CES demand system using household budget data for the United Kingdom for the period 1966-1972 (EXCERPT)

Edgar L. Feige, Kenneth J. Singleton, Multinational Inflation under Fixed Exchange Rates: Some Empirical Evidence from Latent Variable Models, The Review of Economics and Statistics, Vol. 63, No. 1 (Feb., 1981), pp. 11-19

, Returns to Research and Development in the Private Sector, in J. Kendrick and B. Vaccara (eds.), New Developments in Productivity Measurement and Analysis (Chicago: University of Chicago Press, 1980). National Science Foundation, Research and Development in Industry (Washington: Government Printing Office, an-nual issues). Pakes, Ariel, and Mark Schankerman, The Rate of Obsolescence of Knowledge, Research Gestation Lags, and the Private Rate of Return to Research Resources, Harvard Institute of Economic Research, Paper No. 659, Oct. 1978.