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 ...

Government analytics refers to the use of data to diagnose and improve the machinery of government, or public administration. The Handbook introduces a public administration production function to ...

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 ...

Most macroeconomic models assume that aggregate output is generated by a specification for the production function with total physical capital as a key input. Implicitly this assumes that private and ...

Increasing concern with productivity and efficiency in service industries such as higher education has created interest in cost analysis techniques, implicit in which must be some notion of the ...