In this paper we present results of joint estimates of factor demand functions in aggregate Swedish industry and in eight of its subsectors using the equilibrium equality between marginal ...
1. If marginal product is decreasing, then average product must also be decreasing. 2. For a fixed-proportion technology, inputs cannot be substituted for each other in production. 3. The marginal ...
The usefulness of the production possibility curve for the empirical testing of international trade theory is demonstrated. Agricultural and manufacturing production functions are estimated for the ...
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