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*it enables the circular flow of economy

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12y ago

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What is the production function and types of production function?

production function is relation between firm's production and material factors of production


What is the significance of the Leontief production function in economic analysis and how does it differ from other production functions?

The Leontief production function is significant in economic analysis because it focuses on the fixed proportions of inputs needed to produce a certain level of output. This differs from other production functions, such as the Cobb-Douglas function, which allow for varying proportions of inputs. The Leontief function is useful for analyzing industries where inputs must be used in specific ratios, like in manufacturing or agriculture.


What is short run production function?

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What are the production function of Mc Donalds?

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What is the use of production function?

In microeconomics, a production function asserts that the maximum output of a technologically determined production process is a mathematical production of input factors of production.


What is the managerial use of production function?

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How does one figure the production function of their company?

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How do you derive a cost function for a production function?

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If production set is convex then production function is concave?

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Define production function?

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What is the function of ICSH?

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