In this paper the theory of cost and production in the multi-product firm is formulated as a problem of minimizing a convex function subject to convex inequality constraints. The Kuhn-Tucker theorem ...

Technology and business are inextricably linked. Entrepreneurs harness technological advances and, with skill and luck, turn them into profitable products. Technology, in turn, changes how firms ...

ONE morning, an economist went to buy a shirt. The one he chose was a marvel of global production. It was made in Malaysia using German machines. The cloth was woven from Indian cotton grown from ...