3. The marginal product of input 1 derived from the production function y=min[az 1, bz 2], diminishes for increases in input 1. 4. If the average product is declining, then average total cost must be ...

The Handbook introduces a public administration production function to provide an overarching framework to organize the various data sources assessed in different chapters. A production function ...

This paper investigates the role of capital accumulation and market power in explaining this decline. I first estimate the production function of 21 manufacturing sectors along time series and ...

Citations: McGuire, Therese J., Robert Porter, Teresa Garcia-Mila. 1996. The Effect of Public Capital in State-Level Production Functions Reconsidered. Review of Economics and Statistics. (1)177-180.

In contrast, the conventional estimators lead to biased estimates of the production function parameters when the underlying DGPs have spatial dependence structure, and the magnitudes of the bias ...