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By T (ed.) Barna

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Such transformation is achieved by the instrumentality of the accumulation of the right type of capital. In the real world, before this process is completed a new technological horizon may become visible, superimposing a new path for the economy over the one previously chalked out. Accordingly, a study of this transformation path in the first few years will be of particular interest. Hundreds of paths are possible that may lead from one such single technology eeonomy to another. In constructing an artificial series it is neeessary to select one in aeeordanee with certain efficiency criteria.

The effects of economies of scale on the choice of activity in a hypothetical industry It is weIl known that economies of sc ale upset the marginal mechanism for resource allocation, both in a market economy and in mathematical programming. It is necessary to take into account the level of output and total cost as weIl as marginal cost in determining the optimum solution to a model containing significant economies of scale. While there is as yet no general method of solving programming models embodying scale economies, apart from the enumeration of all possible combinations of production activities, in practice workable approximations can probably be developed.

Initial estimates of accounting prices for labour, capital, and foreign exchange based on A-4. 2. Use of A-3 and B-1 to select the best projects in each sector. 3. Revision of input coefficients and import proportions in A-2. (C) Revised interindustry analysis 1. Programming solution(s) based on B-3 and revision of accounting prices after each solution. Change in import proportions based on B-1. 1 A more detailed process analysis approach to this interdependence among plants is outlined in [21].

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