Advertisements
Advertisements
प्रश्न
What is meant by ‘short-run’ production function?
What is a short-run production function?
लघु उत्तर
Advertisements
उत्तर
One input's quantity can be increased in the near term while maintaining the same levels of the other inputs. The law of varying proportions is the name given to this feature. The proportion of the combination of factors of production changes when a producer modifies only one of the elements of production. The Law of Returns to a Factor is the term used to describe this proportional relationship (input).
shaalaa.com
या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
