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MC shifts downward.
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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 short run production function?
if at-least one factor of production is constant, production function is infact short-run production function
What sources shift production function?
s shift in production function
Is the production possibilities frontier upward sloping or downward sloping?
downward
What is the managerial 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 production function and types of production function?
production function is relation between firm's production and material factors of production
What is short run production function?
if at-least one factor of production is constant, production function is infact short-run production function
What are the production function of Mc Donalds?
what is mcdonalds production function
What sources shift production function?
s shift in production function
Is the production possibilities frontier upward sloping or downward sloping?
downward
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.
How are constants in math used in real life?
The constants effect the shifts being vertical. EX. y=x+1 Normally the function would be y=x, but the (+1) Shifts the function up 1
What is the managerial 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.
Did electric lights helped increase factory production by allowing night shifts?
True
How does one figure the production function of their company?
One would have to figure out the production function of their company pretty early on. The production involves the things they make, and the function is what the product does.
How do you derive a cost function for a production function?
derive cost function from production function mathematically, usually done by utilizing mathematical optimization methods.
The parabola for the function will point in which direction yx2 3x-4?
upward
