Rationality of Choices Made by Individual Producers

Karolina Sobczak-Marcinkowska () and Krzysztof Malaga ()
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Karolina Sobczak-Marcinkowska: Poznań University of Economics and Business
Krzysztof Malaga: Poznań University of Economics and Business

Chapter Chapter 4 in Workbook for Microeconomics, 2023, pp 85-161 from Springer

Abstract: Abstract This Chapter presents 14 exercises that help in understanding the problem of describing rational behaviour of a single producer. In particular they concern: production space, a production function as a set of technologically effective processes, profit maximization problem, production total cost minimization problem under conditions of either perfect competition or monopoly, with or without constraints on resources of production factors at the disposal of an enterprise, sensitivity of supplies and prices set by a market or by a producer to changes in values of relevant parameters.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-031-41947-8_4

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DOI: 10.1007/978-3-031-41947-8_4

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