Basic concepts of production function. Historical background and characteristics of different forms
of production functions- linear, quadratic, square-root, Spillman, cubic, semi-log, Cobb-Douglas,
trascedental, CES, VES and Leontief. Static and dynamic production functions and their applications.
Frontier production functions. Dualities between production, cost and profit functions. Derivation
of output supply and factor demand functions from production and profit functions. Optimisation
and resource allocation. Multiple product relationships. Production possibility curves.