Production function:

Author Topic: Production function:  (Read 314 times)

Offline Md. Alamgir Hossan

  • Hero Member
  • *****
  • Posts: 934
  • Test
    • View Profile
Production function:
« on: April 13, 2017, 04:48:27 PM »

                                  The production function signifies a technical relationship between the physical inputs and physical outputs of the firm, for a given state of the technology.

                                                     Q = f (a, b, c……z)

Where a, b, c....z are various inputs such as land, labor, capital etc. Q is the level of the output for a firm.