Production Pdf 127118

picture2_Production Pdf 127118 | Lecture9 picture3_Production Pdf 127118 | Lecture9

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File: Production Pdf 127118 | Lecture9

Production Theory 1 ShortShort-RunRun vv. LongLong-RunRun FixedFixed input/factorinput/factor ofof production:production: quantityquantity of input is fixed regardless of required outputoutput levellevel, ee.gg. capitalcapital oror specializedspecialized labour VariableVariable input/factorinput/factor ofof production:production: ...

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...Production theory shortshort runrun vv longlong fixedfixed input factorinput factor ofof quantityquantity of is fixed regardless required outputoutput levellevel ee gg capitalcapital oror specializedspecialized labour variablevariable quantity used depends on the short run at least one allall inputs factorsinputs factors areare function a technology process by which e g and capital are converted into outpput output level denoted y ththe ttechhnollogy s prodtductiion ffunctition states maximum amount possible from an bundle yy ff xx n productionproduction functionfunction f x pproductoductioon isis thethe mamaxiimmumm obtainable fromfrom inputinput unitsunits...

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Posted on: 12 Oct 2022 | 2 years ago
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Filetype: PDF
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