The Production Function: A New Perspective in Capital Maintenance.

Enrico Petri; Jack Gelfand

doi:10.2308/tar-4482503

The Production Function: A New Perspective in Capital Maintenance.

¹ Professor of Accounting, State University of New York, Albany 1 · ² Professor of Economics, State University of New York, Albany. 2

The Accounting Review 1979

Abstract ABSTRACT: This paper presents a conceptual analysis of two views of output maintenance using the tools of µ-economic theory. The analysis highlights the significance of factor substitution as an essential element in calculating replacement cost. Within this theoretical framework, sales price and cost change are analyzed to determine the relevance of their impact on factor input ratios and output isoquants for both single- and multi-product firms.

DOI: 10.2308/tar-4482503
Volume: 54 (2)
Pages: 330-345
Language: en
Export: BibTeX
Sources: crossref openalex