Question

On the basis of time period, production function is of how many types?

Answer 1

Answer:

Homogeneous and homothetic production functions

There are two special classes of production functions that are often analyzed. The production function is said to be homogeneous of degree , if given any positive constant , .

Answer 2

Answer:

Explanation:

There are two special classes of production functions that are often analyzed. The production function is said to be homogeneous of degree , if given any positive constant , .