Production Economics

This book covers the basic theory of how, what and when firms should produce to maximize profits. It shows how to build and apply linear programming for production planning and features numerous illustrative examples.

Uses a great combination of graphical illustration and mathematical analysis Includes theory of timing of production and timing of replacement of assets Shows how to build and apply linear programming for production planning Features numerous illustrative examples Includes supplementary material: sn.pub/extras

Autorentext

Svend Rasmussen is a senior associate professor at Institute of Food and Resource Economics, University of Copenhagen where he teaches bachelor, master and PhD students and carries out research within the area of production economics. He has a PhD from The Royal Veterinary and Agricultural University, Copenhagen, and a doctor's degree in empirical analysis of risk in agriculture. He has been a visiting scholar at University of California, Berkeley, University of New England, Armidale, Australia, and visiting professor at University of Kiel, Germany. He has published internationally within areas like stochastic frontier analysis of productivity changes in agriculture, development of micro-based agricultural sector models, and risk management based on the state-contingent approach to optimizing production under uncertainty.

Inhalt

Preface.- 1 Introduction.- 2 The Production Function.- 3 Optimisation with One Input.- 4 Production and Optimisation with Two or More Inputs.- 5 Costs.- 6 Productivity, Efficiency and Technological Changes.- 7 Input Demand Functions.- 8 Land and Other Inputs.- 9 The Company's Supply Function.- 10 Optimisation of Production Under Restrictions.- 11 Economies of Scale and Size.- 12 The Fixation of the Production Factors.- 13 Decreasing Sales Curve.- 14 Production Over Time.- 15 Risk and Uncertainty.- 16 Economic Rent and the Value of Land.- 17 Production of Multiple Products.- 18 The Linear Programming Model.- 19 Production Planning in the linear Production Model: Linear Programming.- 20 Use of Linear Programming in Practical Production Planning.- 21 Modelling Supply Functions Using Linear Programming.- Appendix.- Index.