On the Geometry of Constant Returns
Constant returns to scale, always a simplifying assumption, is often also much more: many important results depend critically on the very special properties of this class of production function. The author provides a unified set of simple proofs for most of the crucial analytical properties of constant returns production and their implications for firm costs. He uses only familiar diagrams and high school geometry, and the proofs are written to be easily understood by college sophomores.
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Volume (Year): 33 (2002)
Issue (Month): 1 (January)
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