Definition
Profit function
Interpretation:
is the maximum profit with any feasible production vector y given p.
Properties
(1) 
is homogeneous of degree one
(2) is convex in p
(3) If Y is closed and convex, then 
(4) If Y is closed and convex and has free disposal, then 
See also:
- Production function f(z)
- Cost function c(w, q)