Production and cost — Economics STD 11 Commerce — Question
CBSE BoardEnglish MediumSTD 11 CommerceEconomicsProduction and cost1 Mark
Question
Define short run production function.
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Answer
In short run production function, a firm cannot vary all the inputs, i.e., some remain constant. In order to vary the level of output, the firm can vary only the factors other than the fixed.
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