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 ...

Technical change in general milk processing is estimated on the basis of a homothetic frontier production function allowing neutrally variable scale elasticity. The results show that technical ...