Differentiate between short run and long run production functions.

      

Differentiate between short run and long run production functions.

  

Answers


John
Short run production function is a function that results when some factor inputs are held constant while long run production function is a function that results when all factor inputs are variable.
Jonmhumble answered the question on October 26, 2017 at 15:55


Next: What are the stages of production?
Previous: State and explain the types of division of labour.

View More Economics Questions and Answers | Return to Questions Index


Exams With Marking Schemes

Related Questions