TAILIEUCHUNG - Lecture Managerial economics (10/e): Chapter 10 - Christopher R. Thomas, S. Charles Maurice

In this chapter, you will learn to: Specify and estimate a short-run production function using a cubic specification of the production function, specify and estimate a short-run cost function using a cubic specification, estimate the parameters of a cubic short-run production function by using the technique of regression through the origin,. | Chapter 10: Production and Cost Estimation McGraw-Hill/Irwin Copyright © 2011 by the McGraw-Hill Companies, Inc. All rights reserved. Empirical Production Function An empirical production function is the mathematical form of the production function to be estimated Empirical Production Function Long-run production function A production function in which all inputs are variable Short-run production function A production function in which at least one input is fixed Empirical Production Function Cubic empirical specification for a short-run production function is derived from a long-run cubic production function Cubic form of the long-run production function is expressed as Properties of a Short-Run Cubic Production Function Holding capital constant, short-run cubic production function is derived as follows: The average & marginal products of labor are, respectively: Properties of a Short-Run Cubic Production Function Marginal product of labor begins to diminish .

• Quản trị kinh doanh
• Managerial economics
• Lecture Managerial economics
• Microeconomic theory
• Economic theory
• Empirical production function
• Short run cubic production function
• Market interactions
• Fundamentals of managerial economics
• Marginal analysis
• Marginal benefit
• Economic principles
• Kinh tế học quản lý
• Price discrimination
• Monopolistic competition
• Oligopoly games
• Traditional oligopoly models
• Capital market
• Labour market
• Economic equations
• Economic applications
• Economic applications of derivatives
• Economic application
• Multi variable functions
• Constrained optimization
• Scatter diagram
• Forms of money
• Monetary policy
• Perfect competition
• Demand function
• Supply function
• Quantitative demand analysis
• Theory of individual behavior
• Demand estimation
• Production function
• Costs of production
• Organizing production