tag:blogger.com,1999:blog-26706564.post117014790953451265..comments2024-03-25T07:51:47.758-04:00Comments on Thoughts On Economics: Example With Heterogeneous Labor (Part 1 of 3)Robert Vienneauhttp://www.blogger.com/profile/14748118392842775431noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-26706564.post-54266321239402572013-03-02T05:51:28.948-05:002013-03-02T05:51:28.948-05:00Whereas in the Sraffian theory a single technology...Whereas in the Sraffian theory a single technology is always most efficient (except in the switching point), the optimization problems with scarce resources may yield solutions with a mixed technology. Apparently the maximization of the objective function, for instance with linear programming, does not guarantee the realization of the largest profit rate. The maximization may result in the use of inefficient technology. This is true even when the function is the value of the net product itself. In addition the mix reacts tot scarcity by means of substitution. I wonder what this means or implies.Anonymoushttp://www.hgdewolff.nlnoreply@blogger.com