Optimisation with One Input

Svend Rasmussen ()
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Svend Rasmussen: University of Copenhagen

Chapter 3 in Production Economics, 2013, pp 19-27 from Springer

Abstract: Abstract This chapter discusses the optimisation of production under the simplest preconditions: The production of one product (output) using one input. The amount of the other inputs is presumed given as fixed amounts. The prices of inputs and outputs are presumed given externally (the producer is a price taker) and these prices are presumed to be constant, no matter how much the producer buys and sells.

Keywords: Simple Preconditioner; Total Factor Cost (TFC); Optimal Input Amount; Total Production Value; Inverse Production Function (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-642-30200-8_3

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DOI: 10.1007/978-3-642-30200-8_3

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