Production is a process of combining various inputs to produce an output for consumption. It is the act of creating output in the form of a commodity or a service which contributes to the utility of individuals.

Theory of Production - Applied Economics

In this “Theory of Production - Applied Economics” you will learn about following topics:

  1. Producer Equilibrium
  2. Cost Minimization
  3. Output Maximization
  4. Cobb-Douglas Production Function
  5. Properties of Cobb-Douglas Production Function
  6. Importance of Cobb-Douglas Production Function




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BCA 6th Semester Applied Economics Notes Pdf: