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The long run and production

The long run and production

A long-run production function shows how a firm's output changes when all factors of production can be varied. It can be written as Q=f(L,K)Q = f(L, K)Q=f(L,K), where QQQ is output, LLL is labour and KKK is capital.

7.5.3 long-run production function Lesson

  1. Intl A Level
  2. /Economics
  3. /7.5.3 long-run production function

Step-by-step lessons on CIE Intl A Level Economics 7.5.3 long-run production function. Each one builds up to exam-style questions.

Lessons