On the General Theory of Production Functions
In this paper we will study from an axiomatic point of view the production functions. Also we will define the main indicators of a production function, extending the classical definitions to n inputs and introducing other new. We will modify the notion of global average productivity and replace it w...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Danubius University
2012-10-01
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| Series: | Acta Universitatis Danubius: Oeconomica |
| Subjects: | |
| Online Access: | http://journals.univ-danubius.ro/index.php/oeconomica/article/view/1035/1332 |
| Summary: | In this paper we will study from an axiomatic point of view the production functions. Also we will define the main indicators of a production function, extending the classical definitions to n inputs and introducing other new. We will modify the notion of global average productivity and replace it with more realistic indicators. On the other hand, the notion of global rate of substitution will be introduced to the analysis of n goods. |
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| ISSN: | 2065-0175 2067-340X |