Production Theory and Indivisible Commodities. (PSME-3), Volume 3
One of the usual assumptions in economic theory is that an entity called a commodity can be measured or that the amount of it can be represented by any real number. The functions (or other types of mapping) with which the economist deals, such as production functions, demand curves, and cost functions are assumed to be defined for real number arrays and to behave properly with respect to various c...
One of the usual assumptions in economic theory is that an entity called a commodity can be measured or that the amount of it can be represented by any real number. The functions (or other types of mapping) with which the economist deals, such as production functions, demand curves, and cost functions are assumed to be defined for real number arrays and to behave properly with respect to various c...
