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.
Why do the managers in marris model maximise their satisfaction by choosing a higher growth rate and a lower valuation ratio when compared to the profit maximisation
williamson model and managerial discretion about its objective and statement of problem
1. According to an article in San Luis Obispo Tribune July 21, 2006 37% of the college freshman and 48% of the college seniors carry a credit balance from month to month. Suppose
Organization for Economic Development (OECD) An international organization found in Paris France in 1961, to act as a worldwide forum to stimulate world trade and
Quality and Quantity Controls: Demand forecasting is a necessary and valuable instrument in the control of management of an organisation to provide finished goods of correct quant
Explain the classification of oligopoly?
Q. What do you mean by External Economies? External economies arise outside the firm as a result of improvement in industrial environment in that the firm operates. They are ex
In Home and Foreign there are 2 factors of production, land & labor, used to produce only one good. The land supply in every country and the technology of production are exactly th
calculate point elasticity of demand for demand function q=10-2p for decrease in price from rs 3 to rs 2
a) The most well-organized combination of resources which can be used to make a given level of output is that which: b) The enactment of a guaranteed yearly income for al
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