Concept of production function and its types

Today we will discuss about concept of production function and its types. It is the functional relationship between physical input and physical output of a commodity.

               QX=f (L, K)

30X=f (2L, 10K)

According to it 30 units are produced using 2 units of labour and 10 units of capital. By implying more units of labour say 4 units and 20 units of capital the output could be increased to 60 units.

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