1. If marginal product is decreasing, then average product must also be decreasing. 2. For a fixed-proportion technology, inputs cannot be substituted for each other in production. 3. The marginal ...

This study presents an estimate of departmental cost functions at selected private liberal arts colleges. Longitudinal data for seven academic departments at 31 institutions were analyzed separately ...

Marginal analysis was the heart of early Austrian economics and was quickly adopted into mainstream economics, where it is central to modern microeconomic analysis. Amazingly, many people in business ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Bernstein’s energy analysts have looked at the upstream costs for the 50 biggest listed oil producers and found ...