paper
Linearity of Aggregate Production Functions
Christopher P. Chambers, Alexis Akira Toda
Linearity of Aggregate Production Functions
Christopher P. Chambers, Alexis Akira Toda
paper2023-09-27English
Description
We prove that when individual firms employ constant-returns-to-scale production functions, the aggregate production function defined by the maximum achievable total output given total inputs is always linear on some part of the domain. Our result provides a microfoundation for the linear production function.
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