The book also aims at advanced undergraduate and postgraduate students in economics who often wish to find how mathematics contributes to the understanding of familiar concepts in the theory of production.

Author: A.R.Prasad

Publisher: Reliance Publishing House

ISBN: 8175101873

Category: Production (Economic theory).

Page: 526

View: 688

Traditional theory of economics has been formulated in mathematical terms and an increasing application of mathematical methods to nearly every branch of economics is increasingly witnessed. Mathematical economics has become an integral part of the syllabi in economics at undergraduate and postgraduate levels. Students of economics are also becoming acquainted with mathematics and are learning to use it in economics. Several new textbooks on mathematical treatment of micro-economics have been published but they do scant justice to the beginners by devoting only a few pages to the economic analysis of mathematical formulation. The basic problem is that of teaching economics in mathematical terms. The present textbook is intended for students of economics who possess some knowledge of both economics and mathematics. The selection of topics are indicated by economics, rather than mathematical content and the order of presentation is in consonance with the prescribed syllabi of numerous Indian Universities for undergraduate and postgraduate levels. The book also aims at advanced undergraduate and postgraduate students in economics who often wish to find how mathematics contributes to the understanding of familiar concepts in the theory of production. The object, therefore, is to make the book a self-teaching device that a careful student can work through and master. This does not make classroom teaching unnecessary, but it is certainly going to reduce considerable teaching burden from the teachers shoulders. It is hoped that the comprehensive treatment of the material covered will provide the students with the necessary modern techniques and general theoretical framework with which to approach and analyse the phenomena of production theory in micro-economics.

Chapters 2 to 7 make up the first part entitled production theory. production I | theory of production production planning and cost technologies Chapter 2 — program planning production – choice of procedure functions Chapter 3–5,7 ...

Author: Günter Fandel

Publisher: Springer Science & Business Media

ISBN: 9783642768125

Category: Business & Economics

Page: 405

View: 464

Production theory and the theory of cost both belong to the central areas of business administration, for all considerations concerning the economic organization of industrial manufacturing processes start from these. Two developments in the past 30 years have had a considerable influence on the structure and the concentration on points of emphasis in this book. I am referring to findings from KOOPMANS' activity analysis and to the formulation by GUTENBERG of a production function concept that focuses on industrial production processes. Activity analysis has made it possible to develop, from a uniform approach, different types of production functions which describe the concrete principles of production in the productive sector of a business enterprise; this has created a common basis for all production concepts in business administration. The Gutenberg Production Function with its different kinds of adjustment to a changing output has opened up a flexibility to theoretical and practical considerations that gave rise to a large number of additional studies in this area. Considerations in cost theory were in particular need of considerable extensions in the direction of cost minimal combined adjustment processes. By means of the organization of its contents, this book will take both approaches into due account. In that way, it is vastly different from other books dealing with the same subject. As a matter of course, traditional analytical methods and ways of thinking also constitute a large part of the book.

Two developments in the past 30 years have had a considerable influence on the structure and the concentration on points of emphasis in this book.

Author: Günter Fandel

Publisher: Springer

ISBN: 3642768148

Category: Business & Economics

Page: 405

View: 200

Production theory and the theory of cost both belong to the central areas of business administration, for all considerations concerning the economic organization of industrial manufacturing processes start from these. Two developments in the past 30 years have had a considerable influence on the structure and the concentration on points of emphasis in this book. I am referring to findings from KOOPMANS' activity analysis and to the formulation by GUTENBERG of a production function concept that focuses on industrial production processes. Activity analysis has made it possible to develop, from a uniform approach, different types of production functions which describe the concrete principles of production in the productive sector of a business enterprise; this has created a common basis for all production concepts in business administration. The Gutenberg Production Function with its different kinds of adjustment to a changing output has opened up a flexibility to theoretical and practical considerations that gave rise to a large number of additional studies in this area. Considerations in cost theory were in particular need of considerable extensions in the direction of cost minimal combined adjustment processes. By means of the organization of its contents, this book will take both approaches into due account. In that way, it is vastly different from other books dealing with the same subject. As a matter of course, traditional analytical methods and ways of thinking also constitute a large part of the book.

This book contains a systematic and comprehensive analytical treatment of the theory of production in a long-period framework.

Author: Heinz D. Kurz

Publisher: Cambridge University Press

ISBN: 0521588677

Category: Business & Economics

Page: 596

View: 638

This compelling book contains a comprehensive analytical treatment of the theory of production in a long-period framework. Although the authors take a 'Classical' approach to their subject, the scope of investigation and methods employed should interest all economic theorists. Professors Kurz and Salvadori explore economic systems that are characterised by a particular kind of primary input in the production process, such as different kinds of labour and natural resources. These systems and the corresponding prices can be understood to reflect characteristic features of a capitalist market economy in an ideal way: they express the pure logic of the relationship between value and distribution in an economic system. Specific chapters deal with prices and income distribution, economic growth, joint production, fixed capital, scarce natural resources (both renewable and exhaustible), and heterogeneous labour. The historical origins of the concepts used are also discussed in considerable detail.

Technical aspects of production: the productivity fundtions; Economic aspects of production: the input perpspective; Economic aspects of production: the output perspective; Multiproduct production; Duality theory.

Author: Bruce R. Beattie

Publisher: John Wiley & Sons

ISBN: STANFORD:36105037789935

Category: Production (Economic theory)

Page: 294

View: 106

Technical aspects of production: the productivity fundtions; Economic aspects of production: the input perpspective; Economic aspects of production: the output perspective; Multiproduct production; Duality theory.

Author: Ronald William ShepherdPublish On: 2015-03-08

A sequel to his frequently cited Cost and Production Functions (1953), this book offers a unified, comprehensive treatment of these functions which underlie the economic theory of production.

Author: Ronald William Shepherd

Publisher:

ISBN: 0691620806

Category: Business & Economics

Page: 322

View: 322

A sequel to his frequently cited Cost and Production Functions (1953), this book offers a unified, comprehensive treatment of these functions which underlie the economic theory of production. The approach is axiomatic for a definition of technology, by mappings of input vectors into subsets of output vectors that represent the unconstrained technical possibilities of production. To provide a completely general means of characterizing a technology, an alternative to the production function, called the Distance Function, is introduced. The duality between cost function and production function is developed by introducing a cost correspondence, showing that these two functions are given in terms of each other by dual minimum problems. The special class of production structures called Homothetic is given more general definition and extended to technologies with multiple outputs. Originally published in 1971. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

The purpose of this book is to present production/cost theory, review various cost accounting methods and demonstrate how they may distort production and pricing decisions in light of the differences between accounting costs and economic ...

Author: Daniel M. Marburger

Publisher:

ISBN: 1606495127

Category: Business & Economics

Page: 140

View: 696

According to economic theory, production and costs follow patterns that are common to many firms. In a world of perfect information, managers could utilize this cost data to make production decisions and set prices. In the real world, however, much of this information remains unknown. Common accounting practices are designed with record-keeping as the end goal rather than to present an accurate assessment of opportunity cost. Many times, managers do not recognize the difference between opportunity costs and accounting costs and, instead, rely upon the readily available accounting costs to make their decisions. This often leads to suboptimal decisions. The purpose of this book is to present production/cost theory, review various cost accounting methods and demonstrate how they may distort production and pricing decisions in light of the differences between accounting costs and economic theory.