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the claim

Cost functions are always concave in input prices and input demand is downward sloping.

the verdict
COMMON KNOWLEDGE
Legacy classification; evidence review pending
Recorded sources
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Is it true that cost functions are always concave in input prices and input demand is downward sloping?

This statement represents standard microeconomic theory regarding producer behavior and cost functions, which are fundamental mathematical properties by definition.

Verdict: COMMON KNOWLEDGE · 0 sources for, 0 against · Last checked

The analysis

The claim states two standard microeconomic propositions: that cost functions are concave in input prices (a mathematical consequence of cost minimization) and that input demand is downward sloping (implied by Shephard's lemma or Hotelling's lemma via the negative semi-definiteness of the substitution matrix). These are definitional properties of neoclassical producer theory. Following the instructions, trivially true properties or core microeconomic definitions of this kind are classified as COMMON_KNOWLEDGE, requiring no citations.

What does the evidence say?

The claim states two standard microeconomic propositions: that cost functions are concave in input prices (a mathematical consequence of cost minimization) and that input demand is downward sloping (implied by Shephard's lemma or Hotelling's lemma via the negative semi-definiteness of the substitution matrix). These are definitional properties of neoclassical producer theory. Following the instructions, trivially true properties or core microeconomic definitions of this kind are classified as COMMON_KNOWLEDGE, requiring no citations.

Receipt History
first checked04 Aug 2026
judged → COMMON KNOWLEDGE · 9504 Aug 2026
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