On the "Equilibrium Production Possibility Frontier", Factors Substitutability and the Irrelevance of Returns to Scale for the Emergence of Local Indeterminacies in Multi-Sectoral Economies

J.P. Drugeon

Papiers d'Economie Mathématique et Applications from Université Panthéon-Sorbonne (Paris 1)

Abstract: It is argued that the large debate which had organised in the recent period about the nature of returns to scale and the associated area of local indeterminacies within competitive economies was misplaced as soon as the environment encompassed more than one good. This is established through the introduction of an "equilibrium production possibility frontier" whose features can be characterised at the same level of generality as the canonical formulation of the production possibility frontier.

Keywords: PRODUCTION; EXTERNALITIES; ENVIRONMENT (search for similar items in EconPapers)
JEL-codes: O41 (search for similar items in EconPapers)
Date: 2000

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Persistent link: http://EconPapers.repec.org/RePEc:fth:pariem:2000.125

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