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will.stedden > bonkerfield

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10/12/2021 03:45:00 PM

But shouldn't there be more than just wage in the numerator? You have all of the nonlabor production and distribution costs. I seem to remember that in empirical studies the vast majority of firms that produced goods actually had decreasing marginal cost due to economies of scale. To me, decreasing marginal cost makes the most sense in the context of insulin production since it is largely just biochemical processes that are pretty easy to scale up with automation but there are high IP related starting costs.