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The price of oil and economic activity: A short-run model

✍ Scribed by Gideon Fishelson

Publisher
Elsevier Science
Year
1982
Tongue
English
Weight
540 KB
Volume
4
Category
Article
ISSN
0140-9883

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## SUMMARY Important assumptions that underlie cost‐effectiveness analysis (CEA) are that production technologies are convex and that production processes always perform at constant returns to scale. However, in the short run these assumptions are likely to be violated. Therefore, CEAs might overes