A NEW DEVELOPMENT IN THE MARGINAL PRODUCTIVITY THEORY OF FACTOR DEMAND

Lindon J. Robinson

No 279308, 1981 Annual Meeting, July 26-29, Clemson, South Carolina from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: This paper proves a new theory that achieves for all functions what Euler's *theorem does for linearly homogeneous functions; that is, it exhausts the output among the inputs. The resulting factor shares are shown to be consistent with the marginal productivity of factor demand.

Keywords: Productivity; Analysis (search for similar items in EconPapers)
Pages: 15
Date: 1981-07
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea81:279308

DOI: 10.22004/ag.econ.279308

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