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Fig. 3.
Example of von Neumann technology |
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t cannot exceed the total amount of that good produced as output in the preceding period: |
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(using matrix multiplication and the obvious extension of inequality to vectors). Activities which dispose of or store goods can be introduced so that the given inequalities can be changed to equalities without loss of generality. Thus, given an initial supply of goods V(0),the set of admissible programs becomes |
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