Download This PaperHomogeneity, Returns to Scale and (Log)Concavity
5 Pages Posted: 30 Jul 2020
Date Written: March 30, 2020
Abstract
This brief note shows that if a production function, f, is quasiconcave, increasing and homogeneous, then f is concave if it displays nonincreasing returns to scale, and f is logconcave if it displays increasing returns to scale.
Keywords: Homogeneity, Returns to scale, Rho-concavity
JEL Classification: D21
Suggested Citation: Suggested Citation
Hjertstrand, Per, Homogeneity, Returns to Scale and (Log)Concavity (March 30, 2020). IFN Working Paper No. 1328, Available at SSRN: https://ssrn.com/abstract=3643322 or http://dx.doi.org/10.2139/ssrn.3643322
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