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Cost, Revenue and Duality

  • Rolf Färe
Chapter
  • 115 Downloads
Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 311)

Abstract

Decision making units may be characterized as pursuing various objectives. Cost minimization and revenue maximization are two such objectives or rules which are often assumed in production theory. Prices are essential for both rules, and in Section 6.1, prices are introduced and their role is discussed.

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Copyright information

© Springer-Verlag Berlin Heidelberg 1988

Authors and Affiliations

  • Rolf Färe
    • 1
  1. 1.Department of EconomicsSouthern Illinois UniversityCarbondaleUSA

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