Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Q. Explain the concept of demand function?
Identical to the demand theory which pivots around the concept of demand function, theory of production revolves around the concept of the production function. A production function can be an equation, graph or table presenting the maximum amount of a commodity which a firm can produce from a given set of inputs during a period of time.
The concept of production function represents the ways in that factors of production are combined by a firm to produce different levels of output. More particularly, it illustrates the maximum volume of physical output available from a given set of inputs or minimum set of inputs essential to produce any given level of output. Production function includes a technical or engineering relation, since the relation between inputs and outputs is a technical one. The production function is determined by a given state of technology. When technology enhances the production function changes, since the new production function can yield greater output from given inputs or smaller inputs will be sufficient to produce a given level of output. Further, production function incorporates the idea of efficiency. So production function isn't any relation between outputs andinputs, though a relation in that a given set of inputs produces a maximum output. Consequently production function comprises all the technically efficient methods of producing an output.
Blowing Safety Co. P/L manufactures safety parachutes for the airline industry. These are sold directly to the airline companies. Management expects to manufacture and sell around
determine points in units and reorder quantity normal sales=2 month; reorder time=15days; max stock=6 units; safety stock=1 unit ( based on 95% customer''s satisfaction )
cvp analysis
Q. Implications for the shape of cost function? A cost function is also a mathematical relationship, one which relates the expenses an organisation incurs on the quantity of ou
the overall idea of market segmentation
Q. Types of production function? Production function is of two different forms: The variable proportion production function The fixed proportion production functio
neoclassical thinking assumes that all firms are established to make profit has been challenged by managerial discretion model.How successful have been these models to maximize pro
TC=100+0.15Q, Qu=1000-10Pu
Suppose you are an efficient expert hired by a manufacturing firm that uses two inputs, labor (L) and capital (K). The firm produces and sells a given output. You have the followin
The Microeconomic objectives of government These are the policies which are concerned with the allocation and distribution of resources to maximize social welfare. 1. Allo
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd