Leif Johansen, Substitution versus Fixed Production Coefficients in the Theory of Economic Growth: A Synthesis, Econometrica, Vol. 27, No. 2 (Apr., 1959), pp. 157-176 ...

The law of diminishing marginal returns states that there comes a point when an additional factor of production results in a lessening of output or impact.

Microeconomics, in its examination of the behavior of individual consumers and firms, is divided into consumer demand theory, production theory (also called the theory of the firm), and related topics ...

The theory of diminishing returns relates to the marginal utility of production. Marginal utility measures the amount of utility gained from increasing or decreasing the consumption of economic ...

<p>To understand how economic factors impact your organization, start with this careful look at fundamental microeconomic and macroeconomic theory. Learn key aspects of economics, such as how people ...

The primary mission of the JEI is to present articles that use and develop the core ideas of institutional economics in discussions of current economic problems and policy alternatives. The JEI is the ...

Theory of Production and Cost An economic unit engaged in the production of one of more economic goods or services is a business firm.

Keynesian economics is a theory that government intervention is needed to stimulate demand and stabilize the economy, particularly during recessions.