Figure 1: Real Factor Price Frontier1.0 Introduction
I am planning on posting at an even slower rate for a while.
This post continues my exploration of a way of visualizing the choice of technique proposed
by Carlo Milana.
In this post, I show how to correctly apply his visualization to
an example from my 2017 ROPE paper.
Two techniques are available for producing corn, the consumption good. Each technique consists of a flow-input, point-output
technology, with a finite number of dated labor inputs. The technology can also be represented with intermediate
produced commodities explicitly shown.
Table 1 sets out the example as a Leontief input-output table, in some sense.
Each column lists the inputs in a production
process needed to produce a unit output of the