asked 235k views
2 votes
3-4 sentences to answer the question.

How can a manager use the production function to decide whether to add an input to increase production?​

asked
User MESepehr
by
8.7k points

1 Answer

7 votes

Answer: See explanation

Step-by-step explanation:

Production function, simply refers to the equation that is used to show the relationship between production factors such as labour and capital and the quantity of goods that'll be gotten.

To be able to make the best decisions regarding production, managers can use production functions as it shows the maximum amount output that a firm can make by using the inputs that it has.

answered
User Polpetti
by
8.2k points

No related questions found

Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.