On Mon, Sep 09, 2002 at 02:16:46PM -0400, christian11 at mindspring.com wrote:
>
> To get back to one of your original posts, though, you said that you'd have to
> have a really weird cash flow to justify reswitching. And yet, it isn't all
> that hard, is it, to imagine a project that will have three different internal
> rates of return, between which NPV could be positive or negative. Doesn't this
> suggest that reswitching would be a whole lot more "realistic" than a smooth
> downward sloping demand curve and a single equilibrium price for capital?
>
> Christian
-- Michael Perelman Economics Department California State University Chico, CA 95929
Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu