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Theory of Cost and Production Functions

1970 Princeton University Press ;ISBN: 1400871085 ;ISBN: 9781400871087 ;ISBN: 0691620806 ;ISBN: 0691041989 ;ISBN: 9780691041988 ;ISBN: 9780691620800 ;EISBN: 1400871085 ;EISBN: 9781400871087 ;DOI: 10.1515/9781400871087 ;OCLC: 905862844

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  • Title:
    Theory of Cost and Production Functions
  • Author: Shephard, Ronald William
  • Subjects: BUSINESS & ECONOMICS ; Economics ; Microeconomics
  • Description: A sequel to his frequently citedCost and Production Functions(1953), this book offers a unified, comprehensive treatment of these functions which underlie the economic theory of production. The approach is axiomatic for a definition of technology, by mappings of input vectors into subsets of output vectors that represent the unconstrained technical possibilities of production. To provide a completely general means of characterizing a technology, an alternative to the production function, called the Distance Function, is introduced. The duality between cost function and production function is developed by introducing a cost correspondence, showing that these two functions are given in terms of each other by dual minimum problems. The special class of production structures called Homothetic is given more general definition and extended to technologies with multiple outputs. Originally published in 1971. ThePrinceton Legacy Libraryuses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These paperback editions preserve the original texts of these important books while presenting them in durable paperback editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
  • Publisher: United States: Princeton University Press
  • Creation Date: 2015
  • Format: 321
  • Language: English
  • Identifier: ISBN: 1400871085
    ISBN: 9781400871087
    ISBN: 0691620806
    ISBN: 0691041989
    ISBN: 9780691041988
    ISBN: 9780691620800
    EISBN: 1400871085
    EISBN: 9781400871087
    DOI: 10.1515/9781400871087
    OCLC: 905862844
  • Source: ScholarVox International
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