DERIVATION OF SHORT RUN AND LONG RUN COST FUNCTION (COBB-DOUGLAS FUNCTION) IN HINDI. PREPARATION.
Автор: SOURAV SIR'S CLASSES
Загружено: 2019-09-15
Просмотров: 7775
Описание:
Economics # Microeconomics # Numericals # Exam Preparation # Problem-Solving # Question and Answer # Competitive Exams # Bachelors # Entrance Exam # Cost Functions # New Topic.
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The relationship between output and costs is expressed in terms of cost function. By incorporating prices of inputs into the production function, one obtains the cost function since cost function is derived from production function. However, the nature of cost function depends on the time horizon. In microeconomic theory, we deal with short run and long run time.
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