Abstract
Introductory: Pigou's theory of joint cost, 233. — I. Joint cost defined and analyzed. (1) Different utilities. Difference in utility capacity, 234; in market, 236. — Difference in utility means difference in assigning costs, hence discrimination, 236. — Difference in market may make joint expense in case of single commodities, 237. — (2) Necessity of common dependence on same expense. Physical v. economic necessity, 238. — Primary and secondary jointness, 239. — Mixed primary and secondary jointness, 240. — Wide range of necessary joint production, 241. — (3) No direct relation between expense and output, 242. — Constant and variable joint expenses, 243. — Vahdity of this distinction; overworked marginal analysis, 243. — II. Conclusions: (a) Complexity of the joint-cost concept, 245. — (b) Expediency of broad definition, 246. — (c) Relation between joint cost and monopoly as causes of discrimination, 247. — Suggestions for rate regulation, 249.
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