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Multiple Outputs in Port Cost Functions

✍ Scribed by Jara-Díaz, Sergio R.; Martínez-Budría, Eduardo; Díaz-Hernández, Juan José


Book ID
121986501
Publisher
Elsevier Science
Year
2006
Tongue
English
Weight
168 KB
Volume
16
Category
Article
ISSN
0739-8859

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Output scaling in a cost function settin
✍ Rolf Färe; Thomas Mitchell 📂 Article 📅 1992 🏛 Springer 🌐 English ⚖ 464 KB

A significant result in production theory is that even under a very weak condition on the technology, the cost function is well defined and linearly homogeneous in factor prices. We could term this homogeneity a "scaling law," for an equiproportionate scaling of all factor prices results in an ident