Timeline for Basic microeconomics: supply, demand and substitutes in production

4 events

when toggle format	what		by	license	comment
Jan 24, 2015 at 21:30	comment	added	123		Oh man...I blew past that thing about whole milk when I skimmed the question.
Jan 24, 2015 at 20:43	comment	added	jmbejara		The OP made this point. When you get milk from the cow and you remove the cream (used to make ice cream) you are left with the skim milk. Skim milk is not an input. It's a by-product of producing cream.
Jan 24, 2015 at 18:58	comment	added	123		Jmbejara - Would you call these complements in production? I thought that term was used for two things produced simultaneously from the same resource. That is, that producing one triggered the production of the other. For example, consider the sawdust (collected and packaged for sale) that is produced when a lumber mill converts raw timber into building material. I thought the final timber product and the sawdust would be complements in production. Would we not just refer to skim milk as an input here?
Jan 24, 2015 at 18:45	history	answered	jmbejara	CC BY-SA 3.0