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The equilibrium conditions for an economic system that produces output with several factors of production and which is subject to technological constraints are derived. Optimization of either output minus cost or integrated utility yields the conditions that output elasticities must be equal to...
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We study the effects of liquidity constraints and start-up costs on the relationship between wealth and the fraction of … function of individual wealth while the introduction of start-up costs tends to flatten this relationship. The theoretical … business start-up costs. We use three highly comparable micro datasets (SHARE, ELSA and HRS) providing harmonized data on …
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