The shape of the production function is shown to depend crucially on the distribution of tasks. Necessary and sufficient conditions are provided for the production function to be of the constant ratio ...

The law of diminishing marginal utility states that as the marginal utility derived from each additional unit that's used declines as consumption increases. Learn more.

Using Full Duality to Show that Simultaneously Additive Direct and Indirect Utilities Implies Unitary Price Elasticity of Demand ...