Econometrica: Oct 1961, Volume 29, Issue 4
The Theory of Cost and Production in the Multi-Product Firm
Ralph W. PfoutsIn this paper the theory of cost and production in the multi-product firm is formulated as a problem of minimizing a convex function subject to convex inequality constraints. The Kuhn-Tucker theorem is used to solve the problem. Differences between cost and production theories for the single-product firm and for the multi-product firm are noted briefly.
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