Industrial Organisation 2022: What does the long run production function look like, and what is the description of each variable?

Question

What does the long run production function look like, and what is the description of each variable?

Hjalmer Pedersen · Accepted Answer

Long run production function: q=f(L,K)
q = quantity, L = labor & K = kapital. Both are variable in the long run, and the function of L and K creates quantity of products produced.

Industrial Organisation 2022

What does the long run production function look like, and what is the description of each variable?

Long run production function: q=f(L,K) q = quantity, L = labor & K = kapital. Both are variable in the long run, and the function of L and K creates quantity of products produced.

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