This book covers the basic theory of how, what and when firms should produce to maximise profits. Based on the neoclassical theory of the firm presented in most general microeconomic textbooks, it extends the general treatment and focuses on the application of the theory to specific problems that the firm faces when making production decisions to maximise profits. Increasing level of government regulation and the use of specialised and often very expensive equipment in modern production motivates the following focus areas: 1) How to optimise production under restrictions., 2) Treatment of fixed inputs and the process of input fixation, 3) Optimisation of production over time, 4) Linear and Mixed Integer Programming as tools for optimisation in practice. This updated second edition includes a more comprehensive introduction to the theory of decision making under risk and uncertainty as well as a new chapter on how to use linear programming to generate the supply function of the firm.

This three-volume handbook includes state-of-the-art surveys in different areas of neoclassical production economics. Volumes 1 and 2 cover theoretical and methodological issues only. Volume 3 includes surveys of empirical applications in different areas like manufacturing, agriculture, banking, energy and environment, and so forth.

This scholarly yet accessible book provides an introduction to the main topics in production economics. The book successfully integrates two historically distinct perspectives on modeling technology: from microeconomics and engineering.

Introduction to Economics, Sixth Edition gives a general and nonmathematical introductory approach to the field of economics. The monograph also updates the reader with economic issues over the years and modern economic analysis. The book is divided into seven parts. Part I includes basic topics such as the aim and purpose of economics; production, consumption, and trade; and the factors of production. Part II discusses industrial organization; growth, transformation, and development; localization of industry; and large-scale production. Part III tackles the dynamics of supply and demand, while Part IV talks about the distribution of income, wages, interest, and profit. Part V deals with the national income; expenditure, production, and income in a closed economy; and inflation. Part VI discusses international trade and finance, and Part VII covers the establishment of economic policies and its inherent problems. The text is recommended for economics students who need a good foundation of different principles and concepts in economics as well as their real-world applications.

Principles of Macroeconomics for AP® Courses 2e covers the scope and sequence requirements for an Advanced Placement® macroeconomics course and is listed on the College Board's AP® example textbook list. The second edition includes many current examples and recent data from FRED (Federal Reserve Economic Data), which are presented in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition was developed with significant feedback from current users. In nearly all chapters, it follows the same basic structure of the first edition. General descriptions of the edits are provided in the preface, and a chapter-by-chapter transition guide is available for instructors.

Contributions to Economic Analysis: Production Economics: A Dual Approach to Theory and Applications, Volume 2 focuses on the theory of production from the standpoint of the "dual", the relationships between economic observables which are dual to physical technology. The selection first ponders on duality, intermediate inputs and value-added, Hicks' aggregation theorem and the existence of a real value-added function, and homotheticity and real value-added in Canadian manufacturing. Discussions focus on real value-added and the production structure, estimation of the production structure, double deflation and real value-added, measurement of total productivity, and duality between direct and conditional indirect utility functions. The book then examines the estimation techniques for the elasticity of substitution and other production parameters and measurement of the elasticity of factor substitution and bias of technical change. The publication takes a look at the identification of technical change in the electricity generating industry, factor substitution in electricity generation, and the effectiveness of rate-of-return regulation. Topics include statistical tests of regulatory effectiveness, profit function for a regulated firm, tests of the structure of technology, identification problems in the measurement of technical change, and measurement of disembodied technical change. The selection is a valuable source of information for economists and researchers interested in production economics.

Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond. This is an adaptation of Introduction to Business by OpenStax. You can access the textbook as pdf for free at openstax.org. Minor editorial changes were made to ensure a better ebook reading experience. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution 4.0 International License.

This textbook addresses the main economic principles required by agricultural economists involved in rural development. The principles of 'micro-economics' or 'price-theory' are of relevance to economists everywhere, but this book reinforces the message of their relevance for rural development by explaining the theory in the specific context of the agricultural and food sectors of developing countries. Hypothetical and actual empirical illustrations drawn almost exclusively from such countries distinguish this book from other economic principles texts that draw their examples almost invariably from industrialised countries, and also from books more oriented to the issue of rural development. The first half of the book deals with the underlying principles of production, supply and demand. These are essential tools for the study and management of the agricultural sector and food markets. In the second half, supply and demand are bought together into a chapter of equilibrium and exchange. This is followed by chapters on trade and the theory of economic welfare. In the final chapter it is shown that much of the material in the earlier chapters can be combined by agricultural economists into a system for analysing and comparing the effects of alternative agricultural policies. The ability of agricultural economics to provide a consistent framework for the analysis of policy problems thus enables it to make a key contribution to rural development.

Written by Neil M. Coe, this Advanced Introduction provides a comprehensive guide to the vibrant and expanding global production network (GPN) approach, through deftly exploring its antecedents, theoretical underpinnings, and debates and controversies in the field. The author argues overall that, during a time of profound on-going challenges within the global economic system, the need for a GPN framework has never been more pressing.