INTRODUCTION TO MICROECONOMIC THEORY
INTRODUCTION TO MICROECONOMIC THEORY 5 5.2.2. Returns from the production technology. The returns to a particular production plan are given by the revenue obtainedfrom the plan minus the costsof the inputs or π =Σm j=1p y − Σ n i=1 w ix (7) where pj is the price of the jth outputand wi is the price of the ith input. A neoclassical …
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