Chapter 12: Production with Multiple Inputs

Animated Graphics

Each graphic opens in a new browser window.

Profit Maximization in the 1-Input and 2-Input Model     Voice-Over

Deriving 2-Dimensional Level Curves from a 3-Dimensional Picture of "Mount Nechyba"

Deriving 2-Dimensional Isoquants from a 3-Dimensional Production Frontier     Voice-Over

Relatively More or Less Substitutability of Capital for Labor     Voice-Over

Convex (a) and Non-Convex (b) Producer Choice Sets     Voice-Over

Homothetic Isoquant Maps can represent Increasing, Constant or Decreasing Returns to Scale Production Processes     Voice-Over

Finding the Cheapest Way of Producing Different Units of Output     Voice-Over

Cost Curves of "Typical" Production Processes     Voice-Over

MC and AC under Increasing Returns to Scale Production     Voice-Over

Quasiconcave functions can be Concave (a) but don't have to be (b)     Voice-Over

Increasing Returns to Scale with (a) Diminishing MP and (b) Increasing MP     Voice-Over

Inverse of (a) x(p,20,10), (b) l(5,w,10) and (c) k(5,20,r) when f(l,k)=20l^2/5k^2/5     Voice-Over

"Duality" of Profit Maximization and Cost Minimization (see static)

Convexity (in Output Price) of the Profit Function and Hotelling's Lemma     Voice-Over

Convexity (in Input Prices) of the Profit Function and Hotelling's Lemma     Voice-Over