Kosztowa funkcja produkcji w zastosowaniach makroekonomicznych
Production and cost function in macroeconomic context

Summary/Abstract: This paper describes a new production function, for which production cost is the starting point. The production function arises from natural generalization of costing, but with account taken of theoretical issues connected with human capital. Basic formulas of labor cost are incorporated. The application of the new production function allows for deeper explanation of the significant role of labor productivity and labor share in economic theory. Moreover, both categories improve the theory of exchange rate.

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