a formal mathematical relation that describes the efficient process of transforming inputs into outputs
a function that summarizes the conversion of inputs in to outputs
a quantitative or mathematical description of the various technical production possibilities faced by a firm
a relationship between input, ( e
a technological, not an economic, relationship
The relationship between the quantities of various inputs used per period of time and the maximum amount of output that can be produced per period of time.
A relationship showing how output varies as the employment of inputs is varied.
This describes the outputs that may be obtained from combining different quantities of inputs.
the relationship between the inputs used in production and the level of output
Production function is the relationship between the maximum output attainable and the quantities of both labor and capital.
The quantitative relationship between variable inputs and outputs for some production process with a specified level of fixed inputs.
In microeconomics, a production function asserts that the maximum output of a technologically-determined production process is a mathematical function of input factors of production. Considering the set of all technically feasible combinations of output and inputs, only the combinations encompassing a maximum output for a specified set of inputs would constitute the production function. Alternatively, a production function can be defined as the specification of the minimum input requirements needed to produce designated quantities of output, given available technology.