Production Function Graph Macroeconomics. Now let us multiply the inputs by the constant α so that L 2 equals αL 1 and K 2 equals αK 1. PPF and Production Functions.
The Short Run Production Function Open Textbooks For Hong Kong from www.opentextbooks.org.hk
H 1 a where a is just a number. These graphs require a bigger screen. The short run production production assumes there is at least one fixed factor input.
Total product total output.
PPF and Production Functions. 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. Q L M N C T Given T if the quantities of all inputs L M N С are increased n-fold the output Q also increases n-fold. K amount of capital input measured in physical units or in value in the economy.
