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Consider a production function $$y = F(A,K,L)$$ where $A$ represent "technology" (in the broad sense including for example also organizational technology), $K$ is capital and $L$ is labor (again both broadly defined) "Economies of scale" (a looser synonym of increasing returns to scale), is, in economics, always defined with respect to all arguments in ...


4

If you aren't interested in learning from a game and decision theoretic perspective, I'm not exactly sure why you're posting on an economics forum. Because that's what learning really is, from an economics perspective. AI really breaks down into three subfields: logical, behavioral, and machine learning. The logical subfield deals with logical reasoning, ...


2

Does this exist? Of course the 3D representation exist. Below you can see 3D representation of Cobb-Douglas maximization problem with two factors and budget constrain, which is very similar to the problem solved in the video you linked (indeed you would probably not be able to find any qualitative difference in graph for that problem in the video even ...


1

It's not done in two dimensions because it's easier to draw on paper. It's done in two dimensions because if you can grasp the concepts at work in that minimal $n=2$ variable setting, you can generalize the concepts from there to all $n>2$ variable settings. So, for pedagogical reasons of simplicity of teaching, instructors keep it to $n=2$. I don't have ...


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