In this section you will learn all about Production function.
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Instructor : Aditi Jain
Hello ,I am Aditi.I am faculty of Accountancy at study Khazana. For me nothing could be more beautiful than learning by sharing knowledge.My lectures will be enough for all the students to achieve good marks.
Production function is a part of Unit-3. In this you will study the following:Production Funtion: Short run and Long RunTotal Product, Average Product and Marginal Product.Return to a factor.cost and Revenue: Short run costs, total variable cost, Average costs, Average fixed cost, Average variable costs and marginal cost-meaning and their relationship.Producer's equilibrium, its meaning and its condition terms of marginal revenue -marginal cost.Supply, market supply, determinants of supply, supply schedule, supply curve and its slope, movement along shift in supply curve, price elasticity of supply. (a) Percentage change Method (b)Geometric Method