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Business
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| Number of pages / Number of words: |
7 / 1875 |
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Output is produced at constant returns in a production function with two factors, capital and labour.
- To obtain unceasing growth, one must consider an external factor that increases the productivity of inputs over time. Exogenous technical progress T can then be integrated into the production function: Y = f (K, L, T)...
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Output is produced at constant returns in a production function with two factors, capital and labour.
- To obtain unceasing growth, one must consider an external factor that increases the productivity of inputs over time. Exogenous technical progress T can then be integrated into the production function: Y = f (K, L, T)...
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General points of the essay
BP America Production Co., Successor in interest to Amoco Production Co., et al. v. Burton, Acting Assistant Secretary, Land and Minerals Management, Department of the Interior, et al.
Chapter 13 (Freeman Soete)
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