高級微觀經(jīng)濟學(xué)summary-全文預(yù)覽
【正文】 lege to scale ? Proposition 3: Y is constant returns to scale if Y is both “additive” and “convexity”. ? Proposition 4: single production, if and only if f(.) is homogenous of degree 1, Y is constant returns to scale. lecture 1 for Chu Kechen Honors College to scale ? Why we assume that Y is nonincreasing (or decreasing for usual) returns to scale? ? Suppose Y is decreasing returns to scale, and it’s PF f(x), now we introduce new input z, and difine a new PF: F(.) is homogenous of degree 1. F z z f z?( , x ) ( x / )lecture 1 for Chu Kechen Honors College to scale ? Homogeneous and homothetic tech. – Homogeneous of degree k: – Homothetic function: ? Elasticity of scale: ( ) ( ) 0kf t t f t? ? ?xx( ) ( ( ) ) f g h?xx i s H D 1 , i s a p o s s i t i v e m o n o t o n i c f u n c t i o n . hg( x ) ( . )( ) ( ) q t f t? x1l n ( ) ( ) ln td q tedt ??xlecture 1 for Chu Kechen Honors College Assignment ? Textbook: , , . lecture 1 for Chu Kechen Honors College Properties of PS. y2 y1 y2 y1 Free lunch lecture 1 for Chu Kechen H
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