1. If marginal product is decreasing, then average product must also be decreasing. 2. For a fixed-proportion technology, inputs cannot be substituted for each other in production. 3. The marginal ...

This is a preview. Log in through your library . Abstract This paper develops a model of two-part pricing by noncooperative, price-setting duopolists selling to a price-taking consumer with a general ...

This study presents an estimate of departmental cost functions at selected private liberal arts colleges. Longitudinal data for seven academic departments at 31 institutions were analyzed separately ...