Microeconomics

Download E-books Theory of Cost and Production Functions (Princeton Studies in Mathematical Economics) PDF

A sequel to his usually mentioned Cost and construction Functions (1953), this ebook deals a unified, entire remedy of those features which underlie the industrial concept of production.

The process is axiomatic for a definition of expertise, via mappings of enter vectors into subsets of output vectors that signify the unconstrained technical chances of creation. to supply a totally basic technique of characterizing a expertise, a substitute for the construction functionality, known as the space functionality, is introduced.

The duality among price functionality and creation functionality is built by means of introducing a value correspondence, displaying that those services are given by way of one another via twin minimal problems.

The exact classification of creation buildings known as Homothetic is given extra normal definition and prolonged to applied sciences with a number of outputs.

Originally released in 1971.

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