《林业经济学》课程教学资源（PPT课件讲稿，英文版）Forest Production

PRODUCTION THEORY Average Product APxi= y X Marginal product MPri= axi Elasticity of Production Oy xi Oxi y

PRODUCTION THEORY Average Product Marginal Product Elasticity of Production xi y APxi  xi y MPxi    y xi xi y i    

PRODUCTION THEORY ◆ Cost functions e Cost functions represent the minimum cost of producing a good or service at gIven input prices. c(w,y)=min wx

PRODUCTION THEORY uCost Functions uCost functions represent the minimum cost of producing a good or service at given input prices. c(w, y)  min wx