Production Function:
The functional relationship among inputs and outputs is termed as production function. Inputs refer to the factor services that are employed in production that is, land, labor, capital and enterprise. Output refers to the volume of goods generated. Given technical circumstances, the production function exhibits how a certain amount of inputs will outcome in the production of a certain amount of yield of a commodity. The production function is specified as:
Q = f (x1, x2, x3 ….xn) in which
Q is the quantity generated during a specified period of time and x1, x2, x3 ….xn are the quantities of various factors employed in production. The production function elucidates how the output can be maximized with the aid of given inputs.
To understand the different phases of the production functions, it is necessary to understand the relationship among
(i) Marginal Product and Total Product and (ii) Marginal Product and Average Product (the table and figure is as shown below)
Table: Stages of Law of Variable Proportions
Figure: Law of Variable Proportions
Latest technology based Economics Online Tutoring Assistance
Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Production help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Production, project ideas and tutorials. We provide email based Production help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Production. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Economics Homework help and assignment help services. They use their experience, as they have solved thousands of Economics assignments, which may help you to solve your complex issues of Production. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
tutorsglobe.com phosphorus cycle assignment help-homework help by online biogeochemical cycle tutors
tutorsglobe.com condition of equilibrium assignment help-homework help by online marginal productivity theory of distribution tutors
a computer can be described like an electronic data processing device, able of accepting data, applying a prearranged set of instructions to the data and depicting in some way or form.
tutorsglobe.com azolla assignment help-homework help by online biofertilizer tutors
tutorsglobe.com cerebellum assignment help-homework help by online the brain tutors
www.tutorsglobe.com offers structured programming concepts homework help, assignment help, case study, writing homework help, online tutoring assistance by computer science tutors.
alkanoic acids tutorial all along with the key concepts of characteristics of alkanoic acids, oxidation of primary alkanols and uses of alkanoic acids
job costing method of costing is employed in job order industries in which the production is as per the needs of the customer.
tutorsglobe.com mechanisms of contact dermatitis assignment help-homework help by online hypersensitivity- delayed type hypersensitivity tutors
Theory and lecture notes of von Neumann-Morgenstern Utility Function all along with the key concepts of von neumann-morgenstern utility function, Concave Function, Determining risk premium. Tutorsglobe offers homework help, assignment help and tutor’s assistance on von Neumann-Morgenstern Utility Function.
properties of amino acids tutorial all along with the key concepts of physical properties of amino acids, optical activity of amino acids, absorption of light by amino acids, acid-base property of amino acids and titration curve of simple amino acids
Concept of Multiple input programs-Assignment help and Homework help along with the key concepts of Problems of multiple input programs, Party Lamps and The Clocks
www.tutorsglobe.com offers message homework help, assignment help, case study, writing homework help, online tutoring assistance by computer science tutors.
Avail customized Neural Network Assignment Help service for top-rated tutors and score impeccable grades at reasonable prices.
tutorsglobe.com origin and conduction of heart beat assignment help-homework help by online circulation tutors
1957150
Questions Asked
3689
Tutors
1458702
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!