where the production of one commodity generates output of another commodity in a fixed proportion. Mill cited as examples coke and coal-gas; beef, hides and tallow; and chickens and eggs, amongst others. When production occurs in fixed proportions, the cost of producing a particular commodity ...
Theory of Production and Cost The central concept in the theory of production and costs is the production function . It relates quantities of inputs into a production process to the ou... G Fandel - Springer-Verlag, 被引量: 48发表: 1991年 Socioeconomics and production efficiency of tilapia ...
Noun1.economic theory- (economics) a theory of commercial activities (such as the production and consumption of goods) theory- a well-substantiated explanation of some aspect of the natural world; an organized system of accepted knowledge that applies in a variety of circumstances to explain a sp...
1.3 User Cost Derivation Chapter 3 discusses the construction of user costs. These are derived for the services from all assets or liabilities on a bank balance sheet or appearing on the income statement. The user cost formulation permits goods to be classified as outputs and inputs. Those ...
Our original reason for writing this book was the desire to write down in one place a complete summary of the major results in du ality theory pioneered by Ronald W. Shephard in three of his books, Cost and Production Functions (1953), Theory of Cost and Produc tion Functions (197...
Economics, models, and theories are not dynamic; they are fixed to a period. So, economists base their models on the short run, medium run or long run. The difference in these time frames is the ability to change thefactors of production. For example, in the short run, its impossible ...
In general, this kind ofcost-benefit analysisassumes that utility gains and losses can be expressed in money terms. It also either treats issues of equity (such as human rights, private property, justice, and fairness) as outside the question entirely or assumes that the status quo represents...
Throughout the 1970s and 1980s, the quantity theory of money became more relevant as a result of the rise ofmonetarism. In monetary economics, the chief method of achieving economic stability is through controlling the supply of money. According to monetarism and monetary theory, changes in the...
Home Country Taxation and the Theory of International Production This paper addresses the taxation of foreign source income from the perspective of a multinational firm. It demonstrates how differences in home country fiscal regimes of multinational firms can lead to variations in the cost of transfer...