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Sagot :
The relationship between Stan's inputs and the maximum output his firm can produce is called his short-run production function.
What is software design?
- Software design is the process by which an agency develops a specification of a software artifact intended to achieve goals using a collection of simple building blocks and subject to limitations.
What is the short-run production function?
- The short-run production function is one in which the rest of the elements are variable in nature and at least one factor of production is assumed to be fixed in supply, i.e. it cannot be increased or decreased.
- The amount of other inputs, such as labor, raw materials, capital, and so forth, might be adjusted while the firm's capital inputs are typically thought to be stable.
- As a result, among all the variables of production, it is quite difficult for the company to modify the capital equipment and boost output.
Therefore, the relationship between Stan's inputs and the maximum output his firm can produce is called his short-run production function.
Know more about the production here:
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