PRODUCTION FUNCTION
Production function refers to the efficiency in the use of quantity inputs which results in the quantity outputs or in another words production function is known as the production of physical outputs with respect to the physical inputs provided .
EXAMPLE :-
If in a normal vegetarian pratha shop , 10 workers can make 1000 pratha in a given time period .It means 1 worker can make 100 , 2 can make 200 and so on .... so according to formula
Q=100 L
hence , the graph will be straight .
Production function refers to the efficiency in the use of quantity inputs which results in the quantity outputs or in another words production function is known as the production of physical outputs with respect to the physical inputs provided .
Q = f(KL)
Q = output, or the amount of goods or services produce
K = capital or fixed resources (meaning they don't change)
L = labor, referring to the human resources a business uses to produce its good or service.
EXAMPLE :-
If in a normal vegetarian pratha shop , 10 workers can make 1000 pratha in a given time period .It means 1 worker can make 100 , 2 can make 200 and so on .... so according to formula
Q=100 L
hence , the graph will be straight .
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