Question

short run production function is called answer​

Answer 1

Explanation:

To understand production and costs it is important to grasp the concept of the production function and understand the basics in mathematical terms. We break down the short run and long run production functions based on variable and fixed factors. Let us get started!

Answer 2

Answer:

The short-run production function defines the relationship between one variable factor (keeping all other factors fixed) and the output. The law of returns to a factor explains such a production function. ... It measures by how much proportion the output changes when inputs are changed proportionately.

Explanation:

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