Explain the short run production function, Managerial Economics

Assignment Help:

Q. Explain the Short run production function?

Discussion of production up to now has ignored the time required to build production facilities. There is a requirement to take into consideration the time factor in discussion on the production. So in this section we consider the behaviour of production in the long-run and short-run.

The short run is a phase in that organisation can alter manufacturing by changing variable factors like labour and supplies though cannot change fixed factors like capital.


Related Discussions:- Explain the short run production function

Determinants of demand, Determinants of Demand Price elasticity of dema...

Determinants of Demand Price elasticity of demand fluctuates from commodity to commodity. Whereas the demand of some commodities is highly elastic, demand for others is highly

Calculate the marginal costs and output ranges, Assume that input prices ar...

Assume that input prices are constant at r = 1, w = 1, with technology which consists of 5 processes having the following properties: Process Inputs Capital (machine hours)

Define the simple statistical concepts of average, Define the simple statis...

Define the simple statistical concepts of average Simple statistical concepts of average (mean) and standard deviation are used.  Estimating a relationship among variables need

Elasticity of demand, Definition of Elasticity Is defined as the ratio...

Definition of Elasticity Is defined as the ratio of the relative change of one (dependent) variable to changes in another (independent) variable, or it's a percentage change o

Types of pricing, example problems for the types of pricing

example problems for the types of pricing

The scope of managerial economics, Economics has two major branches: (1) mi...

Economics has two major branches: (1) micro economics, and (2) both micro and macro economics theories. The parts of micro and macro economics that constitute managerial economics

Explain about managerial economies, Q. Explain about Managerial Economies? ...

Q. Explain about Managerial Economies? Large scale production makes possible the division of managerial functions. So there exists a production manager, a finance manager, asal

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd