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Concave production function - PowerPoint PPT Presentation

Chapter Thirty-Two

Chapter Thirty-Two. Production. Exchange Economies (revisited). No production, only endowments, so no description of how resources are converted to consumables. General equilibrium: all markets clear simultaneously. 1st and 2nd Fundamental Theorems of Welfare Economics.

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1.28k views • 114 slides

Chapter Thirty

Chapter Thirty. Production. Exchange Economies (revisited). No production, only endowments, so no description of how resources are converted to consumables. General equilibrium: all markets clear simultaneously. 1st and 2nd Fundamental Theorems of Welfare Economics. Now Add Production.

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1.34k views • 114 slides

Chapter Thirty

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1.32k views • 114 slides

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Concave production function - PowerPoint PPT Presentation

Chapter Thirty-Two

Chapter Thirty

Chapter Thirty