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Welfare maximization under a revenuecost constraint
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analysis application assume assumptions basic fee break-even compensating compensating variation concept consumption cost function cross-price elasticities decreasing ray average deficit defined demand function depend deviate from marginal economic interpretation efficiency empirical equivalent variation factors of production follows Harberger Hicksian incentive income increasing indirect utility functions individual consumer leads long-run marginal conditions marginal cost pricing Marshallian Marshallian demand function means minimization monopoly objectives obtain off-peak opportunity costs optimal price optimization approach optimum possible price schedule price structure price-cost margins prise private enterprises privately supplied problem production profit maximizing public authority public enter public enterprise public peak public pricing public traffic publicly supplied Ramsey prices ray average costs relevant result returns to scale revenue revenue-cost constraint second-best prices Seiten Slutsky equation social targets theoretical theory of public two-part tariffs typical valid variables weighted consumer surplus welfare function welfare losses welfare maximizing zero zerotariffs