Re: marginalism continued

["John O'Donnell" <jackodonnell@xxxxxxx>]

John Legge wrote:

> Mark-up is often from labour + material costs, seldom average costs
> (although fixed costs may be allocated to the variable ones, giving an
> appearance of average cost mark-up).

Which is, of course, the reason to establish tax reforms
that move taxes from
resolving to variable costs to resolve to fixed costs. With
the later form of
taxation the tendency is for taxes to impel lower rather
than higher prices and
thereby greater economic activity. But, then, that's just
too obvious for
economists to grasp.

--
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