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 ...

Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation The paper develops a methodology based on the production-function approach to estimate potential output of the Polish ...

This paper provides a critique of the household production function approach and its application to the allocation of time. It is argued that many applications of the model, especially those making ...