Edgeworth on Production Production was not well treated by Jevons or Menger Even Walras assumed fixed proportions production functions Edgeworth developed the theory of short run production when one factor is fixed and the other is variable— law of diminishing returns In classical economics this was applied only to production from land (Ricardian rent theory) Edgeworth generalized this and made a clear distinction between average and marginal products (these had often been confused in the past)
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