5. Production Theory

MIT Principles of Microeconomics, Fall 2018 Instructor: Prof. Jonathan Gruber View the complete course: YouTube Playlist: This video introduces the second unit of the course about producer theory. Topics include the production function, short-run production, long-run production, rates of technical substitution, returns to scale, and productivity. License: Creative Commons BY-NC-SA More information at More courses at Support OCW at We encourage constructive comments and discussion on OCW’s YouTube and other social media channels. Personal attacks, hate speech, trolling, and inappropriate comments are not allowed and may be removed. More details at