The Marginalist Principle in a Discrete Production Model under Uncertain Demand

Nissan Liviatan

The Quarterly Journal of Economics, 1971, vol. 85, issue 4, 684-703

Abstract: I. Introduction, 684. — II. The simplest case: two processes — one capital good, 685. — III. Many capital goods and many production processes, 690. — IV. Convexity of ve(b), 692. — V. Continuity of the MRS under excess capacity, 693. — VI. A class of corner solutions with no excess capacity, 697. — VII. Existence of an interior optimum when processes are numerous, 698. — VIII. Conditions for strict convexity of ve(b), 701.

Date: 1971
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