The Kinked Cost Curve and the Dual Resource Base under Oligopsony in the Pulp and Paper Industry

The Kinked Cost Curve and the Dual Resource Base under Oligopsony in the Pulp and Paper Industry

AN OLIGOPSONY IS A MARKET CONDITION WHEREIN A FEW BUYERS CONTROL DEMAND FROM MANY SELLERS. THIS ANALYSIS CENTERS ON THE DISTINCTION BETWEEN RATIONAL PROFIT MAXIMIZING DECISIONS THAT PROPERLY SHOULD BE APPLIED IN THE SHORT RUN TO OPEN MARKET MONOPSONIZED AND OLIGOPSONIZED INPUTS ON ONE HAND, AND INTE...

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Veröffentlicht in:Land economics 1974-05, Vol.50 (2), p.185-192
Hauptverfasser: Lowry, S. Todd, Winfrey, John C.
Format: Artikel
Sprache:eng
Schlagworte:
Economic costs
Economic resources
Forest resources
Forests
Kinked demand
Land economics
Land use
Market prices
Monopsony
Oligopsony
Open markets
Pulp & paper industry
Raw material costs
Raw materials
Reports and Comments
Supply
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Zusammenfassung:AN OLIGOPSONY IS A MARKET CONDITION WHEREIN A FEW BUYERS CONTROL DEMAND FROM MANY SELLERS. THIS ANALYSIS CENTERS ON THE DISTINCTION BETWEEN RATIONAL PROFIT MAXIMIZING DECISIONS THAT PROPERLY SHOULD BE APPLIED IN THE SHORT RUN TO OPEN MARKET MONOPSONIZED AND OLIGOPSONIZED INPUTS ON ONE HAND, AND INTERNALLY HELD RESOURCE INPUTS ON THE OTHER. THE ARTICLE BASES ITS DISCUSSION ON ANALIZING THE DISTORTION OF THE NORMAL U-SHAPED COST CURVES. THIS DISTORTION IS EVIDENT IN AN OLIGOPSONISTIC STRUCTURE OF THE RAW-MATERIALS MARKET IN INDUSTRIES WITH SIGNIFICANT CAPTIVE RESOURCE BASES. GRAPHS.
ISSN:0023-7639
1543-8325
DOI:10.2307/3145371