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【正文】 on z . – Shortrun production set. 12( , , , )ny y y? ??????y{ : a r e t e c h n o l o g i c a l l y f e a s i b l e }n? ? ?Y y ylecture 1 for Chu Kechen Honors College 1. Production set ? Input requirement set: – All yi in y are negative, let them be –x (then x is positive), and the rest yj to be q . – So, and , and – the input requirement set is : I???x O???q () n?? ? ?y q , x( ) { : ( , ) }IV ?? ? ? ? ?q x q x Ylecture 1 for Chu Kechen Honors College 1. Production set ? Transformation function: and satisfied ? if and only if y is technologically efficient, then : nT ? ? ?{ : ( ) 0 }n T? ? ? ?Y y y( ) 0T ?yy2 y1 { : ( ) 0 }n T? ? ? ?Y y y{ : ( ) 0 }T ?yylecture 1 for Chu Kechen Honors College set ? Production function: – If O = 1,and I = n 1, then: – means: ? Isoquant: ? Question1: calculate the PS, RS, TF, PF, Isoquant of CobbDouglas technology and Leontief technology. ( ) w h e n ( , ) 0q f T q? ? ?xx( ) = { : ( , ) }f q q q? ? ?x x Y( ) { ( ) : ( , ) }Q q f q q? ? ? ?x x Ylecture 1 for Chu Kechen Ho
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