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Production Analysis — Economics STD 11 — Question

Tamilnadu BoardEnglish MediumSTD 11EconomicsProduction Analysis3 Marks
Question
Name the classification of a production function.
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Answer

Production function may be classified into two.
  1. Short-run production function as illustrated by the law of variable proportions.
  2. Long-run production function as explained by the laws of returns to scale.

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