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Location SEVENTH Model page 55
THE LEvel of Activity
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alternative analysis annuities argument ascertain assumed boats businessman chapter choice commodity compensation rate consumer-demand functions consumer-goods consumers consumption function cost equation current consumption debentures demand for money demand function determined efficiency elasticity employed equal equi-marginal productivity condition equilibrium level example expenditure factor-supply function factors of production fish hedging hence income effect increase individual individual’s industry intake of labour interest rate intersector condition introduced investment demand land level of output level of production limit location of production man-year marginal productivity marginal rate marginal utility method of production necessary maximum condition normal profit condition number of firms obtain positive possible production function productive activity productive system profit rate quantity Queensland rate of input rate of return rate of substitution ratio real income region relations returns to scale smoked-fish store of value substitution effect supply system of production tastes tons transactions demand transfer-costs unit variable wage-rate wage-units wheat zero