Explain Production Function in a mathematical equation.
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The .production function is expressed in the formula: Q = f(K, L, P, H), where the quantity produced is a function of the combined input a
mounts of each factor. ... The formula for this form .is: Q = f(L, K), in which labor and capital are the two factors of production with the greatest impact on the quantity of output.
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Answer:
The production function is expressed in the formula: Q = f(K, L, P, H), where the quantity produced is a function of the combined input amounts of each factor. ... The formula for this form is: Q = f(L, K), in which labor and capital are the two factors of production with the greatest impact on the quantity of output..........................
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