Jensen, Helen H.; Fabiosa, Jacinto F.; Yan, Dong - Center for Agricultural and Rural Development (CARD), … - 2004
, normalized quadratic profit
function, production economics.
OUTPUT SUPPLY AND INPUT DEMAND SYSTEM OF COMMERCIAL
AND … responsiveness
to prices. Given an unrestricted profit function in equation (1),
*
(, )p wπ=π , (1)
where π is profit, p is …,
*
(, )p w
y
p
∂π
=
∂
(2)
and
*
(, )
i
i
p w
x
w
∂π
=−
∂
. (3)
The profit function in (1) has standard properties: it is …