Production Sets

1st Edition - January 1, 1982
Editor: Murray C. Kemp
Language: English
eBook ISBN:
9 7 8 - 1 - 4 8 3 2 - 7 1 3 5 - 4

Production Sets is a 12-chapter text that provides a comprehensive account of the properties of production sets. After a brief history of the analysis of production set… Read more

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Production Sets is a 12-chapter text that provides a comprehensive account of the properties of production sets. After a brief history of the analysis of production set possibilities, this book goes on examining the flatness of the transformation surface and the properties of production set possibilities with pure intermediate products. The succeeding chapters cover the shape aspects of production sets and the nonsubstitution over the production-possibility frontier. These topics are followed by discussions of some implications of variable returns to scale, specifically the relation between output responses and the shape of the locus of production possibilities. The final chapters explore the production-possibility set with public intermediate goods and the scale effect of public goods on production-possibility sets. These chapters also look into the properties of the per capita production set in the two-sector model of economic growth. This book will prove useful to economists, teachers, and students.

List of Contributors

Preface

1 A Baedeker

1. The Production Set of a Single Country—Nonjoint Production

2. The World Production Set

3. Joint Production

4. Variable Returns to Scale

5. Public Intermediate Goods

6. Exhaustible Resources

7. The 2 x 2 Model of Production

8. Final Remarks

References

2 On the Flatness of the Transformation Surface

1. Introduction

2. Assumptions

3. Analysis

References

3 The Properties of the Set of Production Possibilities with Pure Intermediate Products

1. Introduction

2. The Model and the Assumptions

3. Analysis

References

4 On the Shape of the World Production Frontier

1. Introduction

2. Analysis

3. Extensions and Specializations

References

5 On the Shape of the Single-Country and World Commodity-Substitution and Factor-Substitution Surfaces Under Conditions of Joint Production

1. Introduction

2. A Single Country

3. The World

4. An Extension

References

6 Nonsubstitution Over the Production-Possibility Frontier

1. Introduction

2. Nonsubstitution with One Primary Resource and without Joint Products

3. Nonsubstitution with Many Primary Resources and with Joint Products

4. Quality

5. Concluding Remark

References

7 Some Implications of Variable Returns to Scale

1. Introduction

2. Restrictions on Production Functions and Factor Supplies

3. The Shape of the Neoclassical Locus of Production Possibilities

4. The Relation Between Commodity Prices and Equilibrium Outputs

5. The Relation Between Output Responses and the Shape of the Locus of Production Possibilities

6. Generalizations

Appendix: A Reply to the Criticisms of Wolfgang Mayer

References

8 Further Implications of Variable Returns to Scale

1. Introduction

2. Assumptions and Definitions

3. The Production Transformation Locus and the Locus of Competitive Outputs

4. Prices, Outputs, and Relative Factor Rewards

5. The Stolper-Samuelson Theorem

6. The Rybczynski Theorem

References

9 The Production-Possibility Set with Public Intermediate Goods

1. Introduction

2. Assumptions

3. Analysis

References

10 The Scale Effect of Public Goods on Production-Possibility Sets

1. Introduction

2. The 2 x 1 x 1 Case

3. Set-Theoretic Considerations in the General Case

4. Conclusion

References

11 Exhaustible Resources and the Set of Feasible Present-Value Production Points

1. Introduction

2. Properties of the Set of Production Points

3. Application

4. Final Remarks—Renewable Resources

References

12 Some Properties of the per Capita Production Set in the Two-Sector Model of Economic Growth

1. Introduction

2. Properties of the per Capita Production Set

3. Applications

References

Index