production function

PRODUCTION FUNCTION:-

                           Maximum output 'Q' a firm can produce for every specified conditions of inputs.It expresses the relationship between the physical inputs and physical output of a firm for a given state of technology. The production-function is a purely technical relation that connects factor-inputs and outputs. The production-function can be written mathematically as follows:

                                                          Q=F(K,L)   L=labour

                                                                              k=capital
Example:-In a company like coca cola,produce his cold drinks by inputs of machinery and labour and the capital.The total function of production of a cold drinks is called production function.
TYPES OF PRODUCTION FUNCTION:-

The types of production-function it will be useful to understand the meaning of following important terms :
1. SHORT TERM PRODUCTION FUNCTION:-

It shows the relationship between production and factors of production in the short period all factors may not be available, so the factors of production in the short period can be divided into two types they are:

2. LONG TERM PRODUCTION FUNCTION:

It explains the relationship between production and factors of production in the long period. It is also called as law of return to scale.
The classification of fixed and variable factors is related to only short period. But in long period all factors are variable factors.