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.
In this “Theory of Production - Applied Economics” you will learn about following topics:
- Producer Equilibrium
- Cost Minimization
- Output Maximization
- Cobb-Douglas Production Function
- Properties of Cobb-Douglas Production Function
- Importance of Cobb-Douglas Production Function
==== Point to Note ====
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BCA 6th Semester Applied Economics Notes Pdf:
- Unit I: Introduction Of Economics
- Unit II: Theory Of Consumer Demand
- Unit III: Analysis Of Cost And Revenue
- Unit V: Product Pricing
- Unit VI: Factor Pricing
- Unit VII: National Income
- Unit VIII: Theory Of Employment
- Unit IX: Consumption Saving And Investment Functions
- Unit X: Business Cycle
- Unit XI: The Mechanism Of Foreign Exchange
- Unit XII: Macro Stabilizing Policies
- Unit XIII: Economics of Development
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