原发布者:梦韵微婷
InputsandProductionFunctionsBasicconcepts•Aproductionfunctionisarelationshipbetweenquantitiesofinputsusedandmaximumquantityofoutputthatcanbeproduced,givencurrentknowledgeabouttechnologyandorganization.•Inputsareresourcesthatarecombinedtoproducefinishedgoods.Theseincludecapital,labourandrawmaterials.•Outputistheamountofagoodproducedbyafirm.•Aproductionsetisasetoftechnicallyfeasiblecombinationsofinputsandoutputs.(L,K)whereQdenotesoutput,Llabour,Kcapital,andf()isafunctionVariabilityofinputsovertime•Itiseasierforafirmtoadjustitsinputsinthelongrun(LR)ratherthanintheshortrun(SR)•Shortrunisaperiodoftimesuchthatatleastonefactorofproductionisfixed•FixedinputisafactorofproductionthatcannotbevariedintheSR(forexamplecapital,itisimpossibletobuildanewplantintheshorttime)•Variableinputisafactorwhichcanbevariedduringtherelevantperiodoftime•Inthelongrunallinputscanbevari