Long period analysis, Microeconomics

Assignment Help:

LONG PERIOD ANALYSIS:

Long period refers to a time when all the factors are variable. Earlier in the short period analysis, we had considered capital (K) to be fixed factor. Here in this part, we assume both L and K to be variable factors. Therefore, the production function would be: 

           q = F(L, K) 

The producer can now employ L and K units at her will to produce output q as per the production technology. Therefore, in the K - L input space the producer can choose any combination of K and L to produce output.  

750_LONG PERIOD ANALYSIS.png


Related Discussions:- Long period analysis

Determinants of social demand for education - equity, Determinants of Socia...

Determinants of Social Demand for Education - Equity Perfect equality is not observed in any society. Hierarchy in status, standards of living, capacities for effective demand

Consumer choice involving risk, CONSUMER CHOICE INVOLVING RISK: The tr...

CONSUMER CHOICE INVOLVING RISK: The traditional theory of consumer behaviour does not include an analysis of uncertain situation. Von Neumann and Morgenstern showed that under

Oligopoly, Ask question #Minimum 100 wordswhat ism accepted#

Ask question #Minimum 100 wordswhat ism accepted#

Analysis the project status - bridge project, The government has undertaken...

The government has undertaken a highway bridge project that was originally projected to cost $2 million and provide benefits of $2.5 million.  Unfortunately, the costs have been mu

Economics, characteristics of microeconomics

characteristics of microeconomics

Oligopoly, little kona is company that is considering enter a market by big...

little kona is company that is considering enter a market by big brew

Calculates suspicion of government , Implicit in these analyses is the fact...

Implicit in these analyses is the fact that without government we could have neither shortage nor surplus.  In large calculates, the suspicion of government is due to it has the po

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