CHAPTER IV

COST AND THE MARGIN OF PRODUCTION

§1. AN ILLUSTRATION FROM COAL

§2. THE VARIOUS ASPECTS OF MARGINAL COST

§3. THE DANGERS OF IGNORING THE MARGIN

§4. A MISINTERPRETATION

§5. SOME CONSEQUENCES OF A HIGHER PRICE LEVEL

§6. GENERAL RELATION BETWEEN PRICE, UTILITY AND COST

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