Business, Management and Accounting
8 years ago

National Railroad Rates to Shift Dramatically Based on Marginal Costs

Southern Economic Journal
Regional Implications of Marginal Cost Rate Making
James M. Buchanan

Paper Summary

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The article discusses how setting prices equal to marginal costs can help allocate resources efficiently in industries, including natural monopolies. It focuses on applying this principle to railroad rate making, predicting that rates will vary based on geographic regions due to differences in providing services.