Answered

Explore IDNLearn.com's extensive Q&A database and find the answers you need. Our experts provide timely, comprehensive responses to ensure you have the information you need.

Stan owns a software design business. He does not have time to expand his office space or redesign the layout of his office. He can increase the amount of work he does by working more hours, asking his current employees to work more hours, or hiring more employees. The relationship between Stan's inputs and the maximum output his firm can produce is called his

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:

https://brainly.com/question/16755022

#SPJ4

We are delighted to have you as part of our community. Keep asking, answering, and sharing your insights. Together, we can create a valuable knowledge resource. Thank you for choosing IDNLearn.com. We’re here to provide reliable answers, so please visit us again for more solutions.