Documents 8. Production functions Econ 494 Spring 2013 1. Agenda Production functions Properties of production...

PowerPoint Presentation 8. Production functions Econ 494 Spring 2013 1 1 For examples, use x1=hours of unskilled workers with shovels, x2=hours of skilled workers with machinery,…

Documents The Demand For Resources

Chapter Objectives Resource pricing Marginal revenue productivity and firm resource demand Factors that affect resource demand Elasticity of resource demand Optimal combination…