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Monotonic Property of Technology

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PPGPortal > Home > Concept Dictionary > K, L, M > Monotonic Property of Technology
 

Monotonic Property of Technology 

The principle that technology is generally monotonic means, that is, when there is an increase of at least one of the inputs, it should be possible to produce at least as much output as a firm was able to produce with its original level of output.

(Dwayne Benjamin, Toronto PPG 1002H)

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This principle is sometimes referred to as the property of “free disposal". If the firm can dispose of any inputs without any cost, having additional inputs can’t possibly hinder production.

     

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