Explain the term production function in the, Ask an Expert

Economics

Explain the term production function in the economics.

Production Function

A production function is the association between the quantity of inputs a firm utilizes and the quantity of output this produces.

A fixed input is an input that quantity is fixed and can’t be varied.

A variable input is an input that quantity the firm can change.

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9581467

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