This paper models an electricity producing firm's ex ante choice of technology for a generating plant in a way that recognizes that planned output is best described by a load increment composed of an ...

Information about costs of water pollution control is a principal ingredient in any policy, implementation, or enforcement decision. Although cost analysis is necessary for decision making, there is a ...

1. If marginal product is decreasing, then average product must also be decreasing. 2. For a fixed-proportion technology, inputs cannot be substituted for each other in production. 3. The marginal ...