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Factor Dominance and Long-Run Equilibrium Scale.

Authors :
Vaage, Gjermund
Kohn, Robert E.
Source :
Journal of Economic Education. Win 1998 29(1):65-71.
Publication Year :
1998

Abstract

Examines two classes of production functions in which the long-run competitive equilibrium scale of the firm increases when the relative price of the dominant factor decreases. Compares these with a third class of production functions where the equilibrium scale is independent of the relative price of the dominant factor. (MJP)

Details

Language :
English
ISSN :
0022-0485
Volume :
29
Issue :
1
Database :
ERIC
Journal :
Journal of Economic Education
Publication Type :
Academic Journal
Accession number :
EJ557555
Document Type :
Journal Articles<br />Reports - Descriptive