倫敦經(jīng)濟(jì)學(xué)院高微講義-企業(yè)理論(1)(編輯修改稿)
2024-11-14 11:17 本頁(yè)面
【文章內(nèi)容簡(jiǎn)介】 ratio If both i and j are in use and MRTS is defined... What if we changed the assumptions about technology? implicit price = market price z2 z1 What would happen if the inputrequirement set looked like this? Any zvalue in this set of points is costminimising z2 z1 z* … or this? There could be multiple solutions. z** ? ? But note that there’s no solution point between z* and z**. z2 z1 z* … or this? ? MRTS21 is undefined exactly at z*. But z* is costminimising point for given Q and all finite values of w1/w2 z2 z1 z* And what happens here? ? Here MRTS21 w1/w2 at the solution. Input 2 is “too expensive” and so isn’t used at all: z2*=0. Let’s look at the formal result from the FOC... THE LAGRANGEAN IS ]0[])([: 22211 ????? ??zQzGzwiii ???The first order condition for input two is 221 wG ??2221 wG ?? ??Or if its not used A set of m+1 conditions ? ? ? ?G1(z) = w1 ?G2(z) = w2 ?Gm(z) = wm … … … … ... Q = G(z) + output constraint ? ? ? one for each input The result? And if isoquants touch the axes... You can get “” if optimal value of this input is 0 ?we get a costminimising value for each input... ?...f
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