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function exhibits constant returnstoscale. 27 27 Examples of ReturnstoScale y a x a x a xn n? m i n { , , , }.1 1 2 2 ?The perfectplements production function is m in{ ( ), ( ), , ( )}( m in{ , , , }).a kx a kx a kxk a x a x a xkyn nn n1 1 2 21 1 2 2????The perfectplements production function exhibits constant returnstoscale. 28 28 Examples of ReturnstoScale y x x xa a na n? 1 21 2 ? .The CobbDouglas production function is ( ) ( ) ( ).kx kx kxk k k x x xk x x xk ya anaa a a a a aa a a a anaa ann nn nn1 21 21 21 2 1 21 2 1 21?? ???????? ? ?? ?29 29 Examples of ReturnstoScale The CobbDouglas technology’s returnstoscale is constant if a1+ … + a n = 1 increasing if a1+ … + a n 1 decreasing if a1+ … + a n 1 30 30 Question and answer Q: 在邊際產(chǎn)出遞減的情況下,是否能存在規(guī)模報(bào)酬遞增現(xiàn)象? A: Yes. . y x x? 12 3 22 3/ / .31 31 ReturnstoScale MP x x1 1 1/ 3 22 323? ? /diminishes as x1 increases MP x x2 12 3 2 1/ 323? ?/diminishes as x1 increases ?所以,即使邊際產(chǎn)出是遞減的,規(guī)模報(bào)酬也可能是遞增的。 32 32 Technical RateofSubstitution At what rate can a firm substitute one input for another without changing its output level? 33 33 Technical RateofSubstitution x2 x1 y?????x239。The slope of an isoquant is its technical rateofsubstitution. 34 34 技術(shù)替代率的計(jì)算 y f x x? ( , ).1 21212yyd y d x d xxx??????2112//d x y xd x y x??????= 0 35 35 長(zhǎng)期和短期 The longrun is the circumstance in which a firm is unrestricted in its choice of all input levels. There are many possible shortruns. A shortrun is a circumstance in which a firm is restricted in some way in its choice of at least one input level. 36 36 長(zhǎng)期和短期 y x x? 11/ 3 21/ 3 is the longrun production function (both x1 and x2 a