## Some Mathematical and Econometric Aspects of the Linearly Homogeneous Production FunctionsInstitute for Business and Economic Research, School of Business, San Jose State University, 1976 - Production functions (Economic theory) - 27 pages |

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0K2 capital 0L2 labor AR=LAC average cost curve Cobb-Douglas production function combinations of inputs constant returns corresponding isocost cost curve coincide cost industry decreasing returns determine the equilibrium DISTRIBUTION PROBLEM duction function economists equation equilibrium conditions equilibrium level equilibrium output equilibrium position equilibrium price Euler's theorem expansion path Figure H firm is constant function is homogeneous function is linear function of degree homogeneous production func homogeneous production function imperfect competition individual firms inflection point inputs increase isocost line isoquant Ka_1 L1_a L1_ot labor and 0K2 level of output linear and homogeneous linearly homogeneous production Log A back long-run average cost long-run marginal cost long-run supply curve marginal product Microeconomics Monopolistic Competition MR=LMC output increases proportionally Panel perfect competition produce a given product of labor production surface proportionally as input represents returns to scale September l964 short-run product curves short-run total product total product curve TP or Q