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Production Functions and Cost Schedules

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Visit this site: http://www.egwald.com/economics/productionfunctions.php

Author:Elmer G. Wiens; Egwald Web Services Ltd.
Description: Production functions, such as the Cobb-Douglas and CES, underly cost schedules used to model firms in micro-economics. The models illustrate this link and show the relation between long and short run cost schedules. Uses calculus (Langrangians) and online diagrams.

Levels: College
Languages: English
Math Topics: Calculus (Multivariable), Statistics, Mathematics of Economics

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