Production in Economics

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Course Code: 
AEC 7203
Course Credit Units: 
Semester 2
Year of Study: 
Year 1
Undergraduate or Graduate Level: 
Graduate Level
Course Discipline: 
Course Description & Objectives: 

Review/overview of Theory of the Firm; Technology, Production sets and input requirement sets; Cost, Profit, and Supply Functions of the Firm; Cost Minimization and Profit Maximization in the Two-Input Case; Returns to Size and Returns to Scale; Technical Efficiency andTechnology Adoption; Using the Profit Function to Estimate Supply and Factor Demand; Linear Programming (LP) and the Theory of Production; Risk and Uncertainty in Production; Household Production Model of Smallholder Agriculture

Production in Economics
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