**Types of production function:**

There are two types of production function which are explained as follows:**The short-run production function**

Thus, the short run production function is the technical relationship between inputs and outputs, where quantities of some inputs are fixed and quantities of some inputs are variable. The input and output relationship in the short run is studied under, the law of variable proportion’.

It can be expressed as:

Q=f (L, K)

Where,

Labour is a variable factor and capital is a fixed factor.

**The long-run production function**

Thus, the long run production function is a technical relationship between inputs and outputs. The input and output relationship, in the long run, is studied under the’ law of returns to scale’.

It can be expressed as

Q=f (L, K)

Where;

both labor and capital are variable factors.

## 0 Comments

Did you like what you just read? Feel free to comment on your opinion or ask questions.