Production function definitions

Production function

In economics, a production function relates physical output of a production process to physical inputs or factors of production. The production function is one of the key concepts of mainstream neoclassical theories, used to define marginal product and to distinguish allocative efficiency, the defining focus of economics. The primary purpose of th...
Found on http://en.wikipedia.org/wiki/Production_function

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Production function

A function that specifies the output in an industry for all combinations of inputs.
Found on http://www-personal.umich.edu/~alandear/glossary/p.html

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production function

in economics, equation that expresses the relationship between the quantities of productive factors (such as labour and capital) used and the amount ... [5 related articles]
Found on http://www.britannica.com/eb/a-z/p/118

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production function

Describes a mapping from quantities of inputs to quantities of an output as generated by a production process. Standard example is: y = f(x₁, x₂) Where f() is the production function, the x's are inputs, and the y is an output quantity. Contexts: micro
Found on http://www.econterms.com/glossary.cgi?query=production+function

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