Question

define theory of production(theory of producer behaviour )

Answer 1

Theory of production, in economics, an effort to explain the principles by which a business firm decides how much of each commodity that it sells (its “outputs” or “products”) it willproduce, and how much of each kind of labour, raw material, fixed capital good, etc., that it employs

Answer 2

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Theory of production, in economics, an effort to explain the principles by which a business firm decides how much of each commodity that it sells (its “outputs” or “products”) it willproduce, and how much of each kind of labour, raw material, fixed capital good, etc., that it employs (its “inputs” or “factors of ..
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