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Optimisation with One Input

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Production Economics

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Abstract

This chapter discusses the optimisation of production under the simplest preconditions: the production of one product (output) using one input. The amount of the other inputs is presumed given as fixed amounts. The prices of inputs and outputs are presumed given externally (the producer is a price taker) and these prices are presumed to be constant, no matter how much the producer buys and sells.

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Notes

  1. 1.

    We refer to this as a competitive market. The non-competitive market case is discussed at the end of Chap. 7 (input) and in Chap. 13 (output).

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Authors and Affiliations

  1. Institute of Food and Resource Economics, University of Copenhagen, Rolighedsvej 25, 1958, Frederiksberg C, Denmark

    Svend Rasmussen

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  1. Svend Rasmussen
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Correspondence to Svend Rasmussen .

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© 2011 Springer-Verlag Berlin Heidelberg

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Rasmussen, S. (2011). Optimisation with One Input. In: Production Economics. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-14610-7_3

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