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

Question

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

Hjalmer Pedersen · Accepted Answer

Short run production function: q=f(L,K ̅ )=g(L)
In the short run, 1 or more production factors are fixed. Here, there is a bar over K so capital is fixed. Hence, q is a function of L. Both L and K can be fixed.

Industrial Organisation 2022

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

Short run production function: q=f(L,K ̅ )=g(L) In the short run, 1 or more production factors are fixed. Here, there is a bar over K so capital is fixed. Hence, q is a function of L. Both L and K can be fixed.

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