Production Pdf 127011 | Mi11516 Ln4 Updated

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Lecture notes 4: Theory of production Hannu Vartiainen HECER Fall 2015 Hannu Vartiainen HECER Production Producer theory Start with a single rm facing given prices Need to describe the technology ...

Filetype PDF | Posted on 12 Oct 2022 | 2 years ago

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...Lecture notes theory of production hannu vartiainen hecer fall producer start with a single rm facing given prices need to describe the technology exogenous endogenous output and input demands aim understand optimal decision no attention organizational nor stratgic aspects objective have model that can be transferred in it its pure form general equilibrium framework key di erence consumer income e ects everything observable primitives firm one good r k space primitive function f describes combinations are technologically feasibe axiom is continuous increasing quasiconcave by monotonicity if y then quasiconcavity requirement set v x fy xg convex for all firms represented possibility corresponds monotonic imply closed...

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Posted on: 12 Oct 2022 | 2 years ago
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