W ha t is a P RO DUC TIO N F U NC TIO N? In e co no m ic s, th e te rm " p ro ductio n fu nctio n" r e fe rs to th e r e la tio nship b etw een th e m axim um o utp ut a fir m c a n p ro ...

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W ha t is a P RO DUC TIO N F U NC TIO N?
In e co no m ic s, th e te rm " p ro ductio n fu nctio n" r e fe rs to th e r e la tio nship b etw een th e m axim um o utp ut a fir m c a n p ro duce a nd
th e q ua ntitie s o f th e v a rio us in p uts th a t it u se s to p ro duce th a t o utp ut.
W he n y o u h a ve y o ur p ro ductio n fu nctio n ( it's a m ath e m atic a l e qua tio n, e sse ntia lly ) y o u c a n fig ure o ut