The allocation of computer resources—is pricing the answer?
Communications of the ACM
A futures market in computer time
Communications of the ACM
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Classical microeconomics focuses on the behavior of producers and consumers in a market setting. The behavior of producers is examined in terms of production functions (the relationship of factor inputs to product outputs) and positioning relative to the market. Of particular concern is the effect of firm size and organization on the production functions for its various products. There is a continuing change in the scale of production, differentiation of products, and integration of supply in the search for the most profitable overall strategy.