Question

Difference between homogeneous and non homogeneous production function

Answer 1

Heya...

Homogeneous product function means that concept of market in which the product of each seller is homogeneous or same ...

It leads no price control and extra selling cost...

Non homogeneous product function means that concept of market in which the product of each seller is different in terms of brands, packaging etc...

It leads selling cost and price control..