The Neoclassical Theory of Production and Distribution

Theobjectofthisbookistopresentacomplete,systematicandthoroughexpositionoftheneoclassicaltheoryofproductionanddistribution.Despitethisbasicobjective,eachchapterpresentsextensionsofneoclassicaltheoryandinterpretationsofestablishedrelations.Thebookhastwodistinctparts.InPartIthemicroeconomictheoriesofproduction,costandderivedinputdemandareexploredindepthforbothfixed-proportionsandvariable-proportionsproductionfunctions.Specialemphasisisplaceduponthecharacteristicsandimplicationsofproductionfunctionshomogeneousofdegreeone.PartIIisdevotedchieflytotheneoclassicaltheoryofaggregaterelativefactorshares,theelasticityofsubstitution,andtechnologicalprogress.