In my last post on my Debtwatch blog, I finished by saying that the Physiocrats were the only School of economics to properly consider the role of energy in production. They ascribed it solely to ...

This paper examines the reliability of supply functions derived from empirically estimated production functions. Firm-level supply equations are derived from production functions for selected ...

1. If marginal product is decreasing, then average product must also be decreasing. 2. For a fixed-proportion technology, inputs cannot be substituted for each other in production. 3. The marginal ...

In this paper we present results of joint estimates of factor demand functions in aggregate Swedish industry and in eight of its subsectors using the equilibrium equality between marginal ...

All quadratic functions have the same type of curved graphs with a line of symmetry. The graph of the quadratic function \(y = ax^2 + bx + c \) has a minimum turning point when \(a \textgreater 0 \) ...