1. If marginal product is decreasing, then average product must also be decreasing. 2. For a fixed-proportion technology, inputs cannot be substituted for each other in production. 3. The marginal ...

Zeitschrift für die gesamte Staatswissenschaft / Journal of Institutional and Theoretical Economics, Bd. 127, H. 1. (Januar 1971), pp. 7-26 (20 pages) Dieser Aufsatz behandelt die homogenen ...

We introduce and analyze a class of variable elasticity of substitution (VES) production functions for which the substitution parameter varies linearly with the capital-labor ratio around the ...

In my last post on my Debtwatch blog, I finished by saying that the Physiocrats were the only School of economics to properly consider the role of energy in production. They ascribed it solely to ...

Abstract: The knowledge production function is central to research and development–based growth models. This paper empirically investigates the knowledge production function and intertemporal ...