Production and Utility Functions

10 Basics: Homogeneous and homothetic functions

10.1 General information on the notation of functions

10.2 Homogeneous functions

10.3 Homogeneous functions of two variables

10.4 Important properties of homogeneous functions: The Euler theorem and the absence of profit for companies with linear economies of scale

10.5 Homothetic functions

11 Substitutionality of production factors

12 CES production function

12.1 Costs

13 Producer surplus and profit

14 Economies of scale

15 Elasticities

15.1 Elasticity of any function

15.2 Elasticities: Characteristics of the graphic illustration of price elasticity

15.3 Elasticities: short and long term

15.4 Elasticities of substitution

15.5 Network Externalities: Band wagon- and snob- effect

10.1 General information on the notation of functions

10.2 Homogeneous functions

10.3 Homogeneous functions of two variables

10.4 Important properties of homogeneous functions: The Euler theorem and the absence of profit for companies with linear economies of scale

10.5 Homothetic functions

11 Substitutionality of production factors

12 CES production function

12.1 Costs

13 Producer surplus and profit

14 Economies of scale

15 Elasticities

15.1 Elasticity of any function

15.2 Elasticities: Characteristics of the graphic illustration of price elasticity

15.3 Elasticities: short and long term

15.4 Elasticities of substitution

15.5 Network Externalities: Band wagon- and snob- effect

(c) by Christian Bauer

Prof. Dr. Christian Bauer

Chair of monetary economics

Trier University

D-54296 Trier

Tel.: +49 (0)651/201-2743

E-mail: Bauer@uni-trier.de

URL: https://www.cbauer.de