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Cost function |
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Cost functionA function relating the minimized total cost in a firm or industry to output and factor prices.Similar MatchesConservative Social Welfare FunctionConservative Social Welfare FunctionA social welfare function that takes special account of the costs to individuals of losing relative to the status quo, and that therefore seeks to avoid large losses to significant groups within the population. Due to Corden (1974). Cobb-Douglas functionCobb-Douglas functionA popular functional form for production and utility functions. With arguments X = (X1,...,Xn), the function is F(X) = APiXiai, where Siai = 1 and A are positive constants. This function has elasticity of substitution between arguments equal one. As a production or utility function, it has competitive expenditure shares equal to ai. Neoclassical production functionNeoclassical production functionA production function with the properties of constant returns to scale and smoothly diminishing returns to individual factors. Essential purpose (or function) bondEssential purpose (or function) bondSee: Public purpose bond Social welfare functionSocial welfare functionA function mapping allocations of goods to the individuals in an economy to a level of welfare for the economy as a whole. If it depends only on the levels of utility of the individuals rather than separately on the allocations, then it is a Bergsonian social welfare function. Further SuggestionsProduction functionSupply function Bergsonian social welfare function Functional distribution of income Utility function Translog function Multifunctionality Probability function Homogeneous function CES Function Demand function Dixit-Stiglitz function Teams Cross Functional Probability density function Reaction function Teams Functional Constant elasticity of substitution function SMAC function Utility function |
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