000054595 001__ 54595
000054595 005__ 20180122211540.0
000054595 037__ $$a822-2016-54164
000054595 037__ $$a822-2016-54520
000054595 041__ $$apt
000054595 245__ $$aDiscussão dos retornos à escala nos contextos das funções de produção e de custo
000054595 246__ $$aTalk returns to scale in the contexts of production functions and cost
000054595 260__ $$c2007
000054595 269__ $$a2007
000054595 270__ $$meliseu.alves@embrapa.br$$pAlves,   Eliseu
000054595 300__ $$a23
000054595 336__ $$aJournal Article
000054595 520__ $$aThe article deals with the cost function at a mathematical level that only requires knowledge of differentials, but except for that, it keeps rigor at a high level. It only states theorems that require long proofs. The article justifies the existence of the cost function, points out its properties, and shows how it relates with the production function in the sense that one is the dual to the other. The article discusses partial and scale elasticities, both in the context of production and cost functions. Whenever profit is maximized, one is the reciprocal of the other. The cost function has not a defined form in the sense that it can be deduced from the axioms of production theory. But the articles points out the plausibility of the form that resembles an open U. The existence of the demand function for a given level of production requires the unicity of the solution of the minimization problem. Whenever the solution is unique, one indicates how to obtain the demand from the cost function. Constant return to scale is not compatible with a competitive economy, and if it prevails net profit is zero, after all factor of production gets its share. The paper extends the cost function to several products, and emphasizes that only by pure luck the minimum average cost shows up if just one observation is surveyed. The article prepares the reader for a more advanced exposition of the cost function, and the text references some of them, and also is useful for econometric research.
000054595 542__ $$fLicense granted by Wilson Vieira (wvieira@ufv.br) on 2009-10-31T12:21:59Z (GMT):

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000054595 650__ $$aProduction Economics
000054595 6531_ $$aCost function
000054595 6531_ $$aProduction function
000054595 6531_ $$aReturn to scale
000054595 6531_ $$aAverage cost
000054595 6531_ $$aProfit
000054595 700__ $$aAlves, Eliseu Roberto de Andrade
000054595 773__ $$d2007$$jVolume 05$$kNumber 2$$o163$$q186$$tRevista de Economia e Agronegócio / Brazilian Review of Economics and Agribusiness
000054595 8564_ $$s89790$$uhttp://ageconsearch.umn.edu/record/54595/files/Artigo_%201.pdf
000054595 887__ $$ahttp://purl.umn.edu/54595
000054595 909CO $$ooai:ageconsearch.umn.edu:54595$$pGLOBAL_SET
000054595 912__ $$nSubmitted by Wilson Vieira (wvieira@ufv.br) on 2009-10-31T12:27:16Z
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  Previous issue date: 2007
000054595 982__ $$gRevista de Economia e Agronegócio/Brazilian Review of Economics and Agribusiness>Volume 5, Number 2, 2007
000054595 980__ $$a822