q types of production functionproduction function
Q. Types of production function?
Production function is of two different forms:
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q explain the concept of demand functionidentical to the demand theory which pivots around the concept of demand function theory of production
q show the method of productiona process or method of production is a combination of inputs essential for the production of output a method of
technically efficient method of production lets suppose that commodity x is produced by two methods by employing capital and labourfactor
the production function can have many uses it can be used to compute least-cost factor combination for a given output or maximum output combination
q types of production functionproduction function is of two different forms the variable proportion production function the fixed proportion
q explain the short run production functiondiscussion of production up to now has ignored the time required to build production facilities there is a
q explain about long run production functionlong run is a phase adequately long so that all factors together with capital can be changedthe factors
q what do you mean by cost functioncost function is a derived function its derived from the production function that describes the efficient method
point and arc elasticity of demandthe elasticity of demand is conventionally measured either at a finite point or between any two finite points on
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