Production, Production with Fixed Input
Why do we need to know about Average and Marginal Product ? When we are talking about Production with One variable or in other words when we a firm is producing something with the limited constraint of having a fixed variable , say Capital in the Short-Run. Also, only...
Microeconomics, Production, Production with Fixed Input
After the basic concept of Production Function and Production Decision. We now move on to Production techniques with one variable or you can also name it as Production Techniques in the Short-Run. One of the Most basic Example of Inputs of Production used is the...
