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Cost Minimization Using Linear Programming

John P. Burkett

in Microeconomics: Optimization, Experiments, and Behavior

Published in print:
2006
Published Online:
October 2011
ISBN:
9780195189629
eISBN:
9780199850778
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195189629.003.0003
Subject:
Economics and Finance, Microeconomics

This chapter examines the use of linear programming in cost minimization efforts in production processes. Most economics have turned to linear programming to explain the convexity of isoquants, ... More


Inputs, Outputs, and Costs

John P. Burkett

in Microeconomics: Optimization, Experiments, and Behavior

Published in print:
2006
Published Online:
October 2011
ISBN:
9780195189629
eISBN:
9780199850778
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195189629.003.0002
Subject:
Economics and Finance, Microeconomics

This chapter examines simple production processes with only two inputs and one output. It describes methods for solving a cost minimization problem or finding the cheapest combination of inputs that ... More


Cost-Benefit Analysis of Evidence Law and Factfinding

Talia Fisher

in Philosophical Foundations of Evidence Law

Published in print:
2021
Published Online:
November 2021
ISBN:
9780198859307
eISBN:
9780191891748
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198859307.003.0011
Subject:
Law, Philosophy of Law

Utility considerations have been central to legal factfinding, at least since the days of Jeremy Bentham, the founding father of utilitarianism and a prominent evidence law theorist. A direct line ... More


B.E.R.K.S.H.I.R.E.

Lawrence A. Cunningham

in Berkshire Beyond Buffett: The Enduring Value of Values

Published in print:
2014
Published Online:
November 2015
ISBN:
9780231170048
eISBN:
9780231538695
Item type:
chapter
Publisher:
Columbia University Press
DOI:
10.7312/columbia/9780231170048.003.0016
Subject:
Business and Management, Strategy

This chapter discusses the lessons that others take away from Berkshire and its subsidiaries. The stories of these subsidiaries animate a few fundamentals. First among these is to be budget ... More


The (Nonstochastic) Producer Problem

Robert G. Chambers

in Competitive Agents in Certain and Uncertain Markets

Published in print:
2021
Published Online:
December 2020
ISBN:
9780190063016
eISBN:
9780190063047
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780190063016.003.0006
Subject:
Economics and Finance, Econometrics, Microeconomics

The canonical profit maximization problem is surveyed. The concept of a technology set, T, is developed by interpreting ≽(y) as an order that characterizes technically feasible possibilities. Basic ... More


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