The per worker production function attempts to model how much a single employee will produce based on either land available or capital invested. The Malthusian model bases it solely on land while the ...

1. If marginal product is decreasing, then average product must also be decreasing. 2. For a fixed-proportion technology, inputs cannot be substituted for each other in production. 3. The marginal ...

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those ...

New research helps explain what goes wrong to when someone gets skin cancer and the relationship between changing skin pigment and the cancer itself. In particular, this research shows that there is a ...