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5. Production Theory

Ford Professor of Economics

48:56·2020·introductory level

This lecture introduces core concepts in producer theory, detailing the production function, short-run vs. long-run production, and the technical rate of substitution. It further examines returns to scale and measures of productivity within microeconomic frameworks.

MIT 14.01 Principles of Microeconomics, Fall 2018

Instructor: Prof. Jonathan Gruber

* View newer version of the course: https://ocw.mit.edu/14-01F23 *

YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-

Seminar notes & discussion

No public seminar notes on this lecture yet.