Leontief production function

E541649

The Leontief production function is an economic model of production that assumes fixed input proportions with no substitutability between factors, often used in input–output analysis.

All labels observed (2)

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Statements (47)

Predicate Object
instanceOf economic model ⓘ
microeconomic concept ⓘ
production function ⓘ
appliesTo multi-input production processes ⓘ
assumes constant returns to scale ⓘ
fixed input proportions ⓘ
no joint production within a sector ⓘ
no substitutability between inputs ⓘ
belongsTo Leontief production model ⓘ
characterizedBy L-shaped isoquants ⓘ
fixed technical coefficients ⓘ
perfect complementarity of inputs ⓘ
zero elasticity of substitution between inputs ⓘ
contrastedWith CES production function ⓘ
Cobb–Douglas production function ⓘ
linear production function with perfect substitutes ⓘ
developedBy Wassily Leontief ⓘ
developedInField economics ⓘ
developedInSubfield input–output economics ⓘ
hasFunctionalForm Q = min{ x1 / a1 , x2 / a2 , … , xn / an } ⓘ
hasIsoquants right-angle isoquants ⓘ
hasProperty constant average and marginal input requirements ⓘ
homogeneous of degree one ⓘ
non-differentiable along kink points ⓘ
piecewise linear in inputs ⓘ
implies Leontief technology matrix in input–output models ⓘ
constant input coefficients per unit of output ⓘ
no factor substitution in response to price changes ⓘ
mathematicallyExpressedAs Q(x) = min_i (x_i / a_i) ⓘ
namedAfter Wassily Leontief ⓘ
relatedTo Leontief inverse ⓘ
input–output table ⓘ
technical coefficients matrix ⓘ
usedFor analyzing inter-industry relationships ⓘ
estimating input requirements for given output levels ⓘ
modeling fixed-proportions technologies ⓘ
policy impact analysis via input–output tables ⓘ
usedIn computable general equilibrium models ⓘ
environmental input–output analysis ⓘ
general equilibrium models ⓘ
industrial economics ⓘ
input–output analysis ⓘ
multi-sector growth models ⓘ
production theory ⓘ
short-run production analysis with fixed proportions ⓘ
usedToRepresent industries with rigid production recipes ⓘ
technologies with fixed capital–labor ratios ⓘ

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Referenced by (3)

Full triples — surface form annotated when it differs from this entity's canonical label.

Wassily Leontief → knownFor → Leontief production function ⓘ
input–output analysis → relatedTo → Leontief production function ⓘ
Leontief production function → belongsTo → Leontief production model ⓘ
linked to: Leontief production function