id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
absel-1856	Gold, Steven C.; Pray, Thomas F.	The Production Frontier Modeling Production in Computerized Business Simulations	1989	7	.pdf	application/pdf	4825	185	40	X2 SX2 * (1-WRM%) (13) where: X2 the effective raw material input sx2 = scheduled raw material usage wRM% = the waste percentage CAPITAL INTENSIFICATION ISSUES In much the same fashion, capital inputs may be altered to impact productivity. The paper has five goals: (1) to summarize the properties of production theory, in both the short-run and long-run, that are most relevant to the modeling of business and management simulations; (2) to review some of the ways in which the production function has been modeled in contemporary business and management simulations; (3) to develop a production system that embodies the following key theoretical production properties: a multiplicative functional form, where the marginal product of each input depends on the level of the other inputs, points of inflection for each input, variable output elasticities, and increasing and decreasing returns to scale; (4) to detail the equations derived from the production system that are needed to define the parameters of the system.	cache/absel-1856.pdf	txt/absel-1856.txt