Production Function Graph Example. HttpsyoutubeemwWbFyW8JIThis video explains how the production function can be built. Q level of output.
Dec 23 2018 Because there is only one input labor to the short-run production function its pretty straightforward to depict the short-run production function graphically. This function is called a production function and is defined as fx max y yxy T max y y. In this equation a and b are the output elasticities of K and L.
Number of lumberjacks.
Q f L C La E R T Where. Production Function x y. C capital K capital La land. For example if one worker can produce 500 pizzas in a day or other given time period the production function would be Q 500 L.
