I. Production and Cost: One Variable Input 1. True/ False 1. If marginal product is decreasing, then average product must also be decreasing. 2. For a fixed-proportion technology, inputs cannot be ...

The production-possibility frontier is strictly concave and negatively sloped if two commodities are produced according to linearly homogeneous, strictly quasi-concave production functions that use, ...

Arguably therefore, the production functions used in economic theory—whether spouted by mainstream Neoclassical or non-orthodox Post Keynesians—deserve to “collapse in deepest humiliation”.

Robert G. Chambers, John Quiggin, The State-Contingent Properties of Stochastic Production Functions, American Journal of Agricultural Economics, Vol. 84, No. 2 (May, 2002), pp. 513-526 ...