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Production function

Production function

Used to define marginal product and to distinguish allocative efficiency.

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  1. Marginal product

    Change in output resulting from employing one more unit of a particular input.

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  2. Production (economics)

    Process of using materials to produce something.

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  3. Cobb–Douglas production function

    Economic formula of productivity.

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  4. Technology

    Use of knowledge for practical goals.

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  1. Cobb–Douglas production function

    Economic formula of productivity.

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  2. Production (economics)

    Process of using materials to produce something.

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  3. Capital (economics)

    Already-produced durable goods that are used in production of goods or services.

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  4. Anwar Shaikh (economist)

    American economist.

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  5. Leontief production function

    Function in economics.

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