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Edgeworth Production Box |
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Edgeworth Production BoxA variation of the consumption Edgeworth Box that instead represents the allocations of 2 factors to 2 industries for use in production functions. Efficient allocations now appear as tangencies between isoquants, while the contract curve becomes the efficiency locus.Similar MatchesIndustrial productionIndustrial productionA statistic determined by the Federal Reserve Board focusing on the total output of all US factories and mines on a monthly basis. Used as an economic indicator. Nonproduction workerNonproduction workerA worker not directly engaged in production. In empirical studies of skilled and unskilled labor, data on nonproduction workers are often taken to represent skilled labor. Production externalityProduction externalityAn externality arising from production. Production workerProduction workerA worker directly engaged in production. In empirical studies of skilled and unskilled labor, data on production workers are often taken to represent unskilled labor. Production possibilities scheduleProduction possibilities scheduleThe maximum amount of goods (i.e., food and clothing) that a country is able to produce given its labor supply. Further SuggestionsProduction Cost AdvantageMultistage production Factor of production Neoclassical production function Production possibility curve Current production rate Neighborhood production structure Production function Production flow commitment Production possibility frontier Production rate |
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