The Law of Diminishing Returns.

Abstract

A weak set of axioms is used for the production correspondences x maps to P(x) and u maps to L(u), x is an element of (R sup n, sub +), u is an element of (R sup m, sub +), not assuming free disposability of inputs and outputs, to formulate and deduce a law of diminishing returns with necessary and sufficient conditions for strong limitationality of essential factors of production. The necessity of the axioms for a weak and strong law is examined. (Author)

Document Details

Document Type
Technical Report
Publication Date
Oct 01, 1973
Accession Number
AD0771309

Entities

People

  • Rolf Fare
  • Ronald Shephard

Organizations

  • University of California, Berkeley

Tags

DTIC Thesaurus Topics

  • Behavior And Behavior Mechanisms
  • Behavioral Disciplines And Activities
  • Behavioral Sciences
  • Cooperation
  • Group Dynamics
  • Production

Readers

  • Economics
  • Linear Algebra
  • Mathematical Modeling and Probability Theory.