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if at-least one factor of production is constant, production function is infact short-run production function
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WHAT IS Short run consumption function?
short run consumption function
What is short-run cost function?
what is short-run cost function
What is production function with one variable input?
The production function for a firm is the relationship between the quantities of inputs per time period and the maximum output that can be produced. It can be calculated for one or more than one variable factors of production. The one variable factor of production function corresponds to the short-run during which at least one factor of production is fixed .
What is the production function and types of production function?
production function is relation between firm's production and material factors of production
A production process characterized by a short production run and frequent adjustments to machines so that different products can be produced is known as a?
Intermittent process
WHAT IS Short run consumption function?
short run consumption function
What is short-run cost function?
what is short-run cost function
What is production function with one variable input?
The production function for a firm is the relationship between the quantities of inputs per time period and the maximum output that can be produced. It can be calculated for one or more than one variable factors of production. The one variable factor of production function corresponds to the short-run during which at least one factor of production is fixed .
Explain why a firm needs to know its short run production function to be able to calculate the costs of production?
In the fhort-run production, a firm can produce and various its quantities of inputs to maximize its profit in a period of time frame. Variable cost, fixed cost, total average cost, marginal cost ....profit.
What is intermittent production?
A intermittent production process a production process in which the production run is short and machines are changed frequently to make different products.
What is the production function and types of production function?
production function is relation between firm's production and material factors of production
Will a firm that owns its own capital equipment will have the exact same long run cost function as a firm that rents capital if both firms have the same production function?
No a firm that owns its own capital equipment will not have the exact long run cost function as a firm that rents capital even if they both have the same production function.
A production process characterized by a short production run and frequent adjustments to machines so that different products can be produced is known as a?
Intermittent process
What are the production function of Mc Donalds?
what is mcdonalds production function
What is the different between short run long run?
short run is a period which is not enough to change or alter the quantities of all of the factors of production. therefore, some factors of production are fixed in this period because you do not have enough time to change the quantities of them. so, in this period i.e., short run, some factors are fixed and others are variables. however, in long run, you have all the factors of production as variables as you have enough time to change them or replace them. for ex:- if you have two factors of production, labor and machinery. it might be difficult for you to replace machinery in short run. however, difficulty might not arise in the case of labor. so in short run you would say that labor is variable and machinery is fixed. but in long run, both of your factors are variable because you have enough time to alter their quantities. usually, in economics, we call a period of 1 year or less as short run. and a period of more than 1 year as long run. but this might not be suitable i every case. this time may vary from situation to situation.
Selling concept and production concept which concept is the best concept for short-run?
ask your mother?lol
Is supply more elastic in the short run than in the long run?
Most of them are more elastic in the long run,because all factors of production are variable,not fixed.
