Production Economics: The Basic Theory of Production Optimisation

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Springer Science & Business Media, Dec 9, 2010 - Business & Economics - 300 pages
This book covers the basic theory of how, what and when firms should produce to maximise profits. Based on the neoclassical theory of the firm presented in most general microeconomic textbooks, it extends the general treatment and focuses on the application of the theory to specific problems that the firm faces when making production decisions to maximise profits. Increasing level of government regulation and the use of specialised and often very expensive equipment in modern production motivates the following focus areas: 1) How to optimise production under restrictions., 2) Treatment of fixed inputs and the process of input fixation, 3) Optimisation of production over time, 4) Linear and Mixed Integer Programming as tools for optimisation in practice.
 

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Linear programing

Contents

1 Introduction
1
2 The Production Function
7
3 Optimisation with One Input
19
4 Production and Optimisation with Two or More Inputs
29
5 Costs
45
6 Productivity Efficiency and Technological Changes
59
7 Input Demand Functions
69
8 Land and Other Inputs
83
13 Decreasing Sales Curve
129
14 Production Over Time
143
15 Risk and Uncertainty
161
16 Economic Rent and the Value of Land
173
17 Production of Multiple Products
183
18 The Linear Programming Model
197
Linear Programming
211
20 Use of Linear Programming in Practical Production Planning
225

9 The Companys Supply Function
89
10 Optimisation of Production Under Restrictions
95
11 Economies of Scale and Size
111
12 The Fixation of the Production Factors
121
Profit Concepts
261
Index
271
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