Production Marketing

PRODUCTION ANALYSIS

Production implies the transformation of i/p into o/p. It is an activity which increases consumer usability of goods and services
The toil use is a purely technological relation ,which relates factor i/p and o/p i.e. transformation of factor i/p into products at each particular time period
It gives us the maximum amount of o/p that can be obtained by employing different i/p

Y = f ( L,K,S)
WhereY is o/p ( production )
L is labour
K is capital
S is land

Each production pop off and the given(p) i/p o/p kindred atomic number 18 specified in relation to a given unit of time. It is based on the assumption that the state of engineering science is given and o/p can be change magnitude by increasing i/p. Production function changes if engine room changes.
There are ii kinds of i/p o/p relations in production function :
improvident Run Production function : I/p o/p relations where some i/p are fixed while quantities of other i/p vary. cardinal situations in this context :
a. P.F. with unmatched variable i/p
b.P.F. with two variable i/p

Long Run Production function : where all i/p are variable
In the LR banknote b/w fixed and variable i/p disappears . Firms can enter or exit only in the LR as it involves varying of the fixed factor.




gibe Product (TP) : Total volume of goods and service produced
The total product c- gives the maximum amt of o/p that can be produced at different levels of one i/p ,assuming that the other i/p is fixed at a particular level
Average Product (AP) :
AP = TP or TP
----- ----------------------------------
L No. of units of the variable factor
Marginal Product ( MP):
MP is the addition to TP attributable to the addition of one unit of the variable i/p to the production process , the fixed i/p remaining unchanged

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