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Production Economics

The Basic Theory of Production Optimisation

  • Textbook
  • © 2011

Overview

Authors:
  1. Svend Rasmussen

    1. Institute of Food and Resource Economics, University of Copenhagen, Frederiksberg C, Denmark

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  • 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
  • Numerous illustrative examples
  • Includes supplementary material: sn.pub/extras

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Table of contents (20 chapters)

  1. Front Matter

    Pages i-xi
    Download chapter PDF

  2. Introduction

    • Svend Rasmussen
    Pages 1-6

  3. The Production Function

    • Svend Rasmussen
    Pages 7-18

  4. Optimisation with One Input

    • Svend Rasmussen
    Pages 19-27

  5. Production and Optimisation with Two or More Inputs

    • Svend Rasmussen
    Pages 29-44

  6. Costs

    • Svend Rasmussen
    Pages 45-57

  7. Productivity, Efficiency and Technological Changes

    • Svend Rasmussen
    Pages 59-68

  8. Input Demand Functions

    • Svend Rasmussen
    Pages 69-81

  9. Land and Other Inputs

    • Svend Rasmussen
    Pages 83-87

  10. The Company’s Supply Function

    • Svend Rasmussen
    Pages 89-93

  11. Optimisation of Production Under Restrictions

    • Svend Rasmussen
    Pages 95-110

  12. Economies of Scale and Size

    • Svend Rasmussen
    Pages 111-120

  13. The Fixation of the Production Factors

    • Svend Rasmussen
    Pages 121-128

  14. Decreasing Sales Curve

    • Svend Rasmussen
    Pages 129-142

  15. Production Over Time

    • Svend Rasmussen
    Pages 143-160

  16. Risk and Uncertainty

    • Svend Rasmussen
    Pages 161-171

  17. Economic Rent and the Value of Land

    • Svend Rasmussen
    Pages 173-181

  18. Production of Multiple Products

    • Svend Rasmussen
    Pages 183-196

  19. The Linear Programming Model

    • Svend Rasmussen
    Pages 197-209

  20. Production Planning in the Linear Programming Model: Linear Programming

    • Svend Rasmussen
    Pages 211-223
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Keywords

About this book

This book covers the basic theory of how, what and when firms should produce to maximise profits. Based on the neoclassical theory of the firm presented in most general microeconomic textbooks, it extends the general treatment and focuses on the application of the theory to specific problems that the firm faces when making production decisions to maximise profits. Increasing level of government regulation and the use of specialised and often very expensive equipment in modern production motivates the following focus areas: 1) How to optimise production under restrictions., 2) Treatment of fixed inputs and the process of input fixation, 3) Optimisation of production over time, 4) Linear and Mixed Integer Programming as tools for optimisation in practice.

Authors and Affiliations

  • Institute of Food and Resource Economics, University of Copenhagen, Frederiksberg C, Denmark

    Svend Rasmussen

Bibliographic Information

  • Book Title: Production Economics

  • Book Subtitle: The Basic Theory of Production Optimisation

  • Authors: Svend Rasmussen

  • DOI: https://doi.org/10.1007/978-3-642-14610-7

  • Publisher: Springer Berlin, Heidelberg

  • eBook Packages: Business and Economics, Economics and Finance (R0)

  • Copyright Information: Springer-Verlag Berlin Heidelberg 2011

  • eBook ISBN: 978-3-642-14610-7Published: 09 December 2010

  • Edition Number: 1

  • Number of Pages: X, 300

  • Number of Illustrations: 97 b/w illustrations

  • Topics: Microeconomics, Operations Management, Agricultural Economics

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