Artha Vijnana: Journal of The Gokhale Institute of Politics and Economics

Eirik G. Furubotn

Abstract

The Literature on engineering production functions asserts that it is often possible to deduce the nature of technical production relationahips from knowledge of general physical and chemical laws [1] [2] [12]. In the method followed, an industrial process is reduced to its physical essentials and an idealized engineering model established. Production is analyzed with the aid of the model on the assumption that any productive activity can be conceived as a physical system undergoing a succession of energy changes.

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