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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Cost and Production Functions

Cost and Production Functions

Shephard, R. W.

Paperback

Series: Lecture Notes in Economic and Mathematical Systems, Book 194

Business General

ISBN10: 3540111581
ISBN13: 9783540111580
Publisher: Springer Nature
Published: Oct 1 1981
Pages: 106
Weight: 0.39
Height: 0.25 Width: 6.14 Depth: 9.21
Language: English
This study is the result of an interest in the economic theory of production intermittently pursued during the past three years. Over this period I have received substantial support from the Office of Naval Research, first from a personal service consulting contract directly with the Mathematics Division of the Office of Naval Research and secondly from Project N6 onr-27009 at Princeton Univer- sity under the direction of Professor Oskar Morgenstern. Grateful acknowledgement is made to the -Office of Naval Research for this support and to Professor Morgenstern, in particular, for his interest in the puolication of this research. The responsibility for errors and omissions, how- ever, rests entirely upon the author. Professor G. C. Evans has given in terms of a simple total cost function, depending solely upon output rate, a treatment of certain aspects of the economic theory of production which has inherent generality and convenience of formulation. The classical approach of expressing the technology of production by means of a production function is potentially less restrictive than the use of a simple total cost function, but it has not been applied in a more general form other than to derive the familiar conditions between marginal productivities of the factors of produc- tion and their market prices.

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