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Results tagged with production-function
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user 18507
A function whose value is the produced quantity associated with a given vector of factor inputs. The production function represents the technology available to the firm.
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When is the PPF convex to the origin?
Given a 2X2 model (2 goods, 2 inputs), if the factor intensities (capital/labour ratio) of the two goods along the Pareto set are unequal, then we get a concave PPF. Can we get a convex PPF in some ca …
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