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In this paper, we study a notion of sufficient input, i.e. input that allows to produce at least one unit of output when the other inputs are fixed at any positive level. We show that such an input allows to produce any positive amount of production. The main property of sufficient inputs is as...
Persistent link: https://www.econbiz.de/10010835958
The benefit function, introduced by Luenberger, provides a tool for well-defined cardinal comparisons of different bundles of goods. It also allows to study in an orignal way optimal consumers and firms choices, Pareto-optimality etc... In this note we prove that the benefit function is...
Persistent link: https://www.econbiz.de/10010836210
In this paper, we study a notion of sufficient input, i.e. input that allows to produce at least one unit of output when the other inputs are fixed at any positive level. We show that such an input allows to produce any positive amount of production. The main property of sufficient inputs is as...
Persistent link: https://www.econbiz.de/10005110624
The benefit function, introduced by Luenberger, provides a tool for well-defined cardinal comparisons of different bundles of goods. It also allows to study in an orignal way optimal consumers and firms choices, Pareto-optimality etc... In this note we prove that the benefit function is...
Persistent link: https://www.econbiz.de/10005110892
The proposition 1 of our paper "On the differentiability of the benefit function" (Economics Bulletin, March, 24) is incorrect under the assumption 1. We provide two alternative versions of this assumption under which the statement of proposition 1 holds true.
Persistent link: https://www.econbiz.de/10005181894
The proposition 1 of our paper "On the differentiability of the benefit function" (Economics Bulletin, March, 24) is incorrect under the assumption 1. We provide two alternative versions of this assumption under which the statement of proposition 1 holds true.
Persistent link: https://www.econbiz.de/10010630087