Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale.
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Isoquant is also called as equal product curve or production indifference curve or constant product curve. Isoquant indicates various combinations of two factors of production which give the same level of output per unit of time.
Just as an indifference curve represents various combinations of two goods which give a consumer equal amount of satisfaction, an iso-product curve shows all possible combinations of two inputs physically capable of producing a given level of output. Since an iso-product curve represents those combinations which will result in the production of an equal quantity of output, the producer would be indifferent between them.
This law was given by Alfred Marshall in his book principle of economics.
It show particular pattern of change in output when some factor remain fixed.
Production depend upon factors of production , if factors of production are good, production may increase and vice-versa.
Production function show functional relationship between production and factors of production.
It refers to manner of change in output cost by the increase in all the input simultaneously and in the same proportion.
Returns refers to “change in physical output”
Scale refers to “quantity of input employed”
Change in scale means that all factors of production are increased or decreased in same proportion.
The cost advantage that arises with increased output of a product.
It arises because of the inverse relationship between the quantity produced and per-unit fixed cost.
Profit refers to the excess of receipts from the sale of goods over the expenditure incurred on producing them.
The amount received from the sale of goods is known as ‘revenue’ and the expenditure on production of such goods is termed as ‘cost’. The difference between revenue and cost is known as ‘profit’.
For example, if a firm sells goods for Rs. 10 crores after incurring an expenditure of Rs. 7 crores, then profit will be Rs. 3 crores.
Isoquants, MRTS, Concept of Total Product, Average & Marginal Product, Short Run and Long Run analysis of production, The Law of Variable proportion, Returns to scale,
Production Cost – Concept of Cost, Classification of Short run cost – Long run cost,
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale.
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Isoquant is also called as equal product curve or production indifference curve or constant product curve. Isoquant indicates various combinations of two factors of production which give the same level of output per unit of time.
Just as an indifference curve represents various combinations of two goods which give a consumer equal amount of satisfaction, an iso-product curve shows all possible combinations of two inputs physically capable of producing a given level of output. Since an iso-product curve represents those combinations which will result in the production of an equal quantity of output, the producer would be indifferent between them.
This law was given by Alfred Marshall in his book principle of economics.
It show particular pattern of change in output when some factor remain fixed.
Production depend upon factors of production , if factors of production are good, production may increase and vice-versa.
Production function show functional relationship between production and factors of production.
It refers to manner of change in output cost by the increase in all the input simultaneously and in the same proportion.
Returns refers to “change in physical output”
Scale refers to “quantity of input employed”
Change in scale means that all factors of production are increased or decreased in same proportion.
The cost advantage that arises with increased output of a product.
It arises because of the inverse relationship between the quantity produced and per-unit fixed cost.
Profit refers to the excess of receipts from the sale of goods over the expenditure incurred on producing them.
The amount received from the sale of goods is known as ‘revenue’ and the expenditure on production of such goods is termed as ‘cost’. The difference between revenue and cost is known as ‘profit’.
For example, if a firm sells goods for Rs. 10 crores after incurring an expenditure of Rs. 7 crores, then profit will be Rs. 3 crores.
Isoquants, MRTS, Concept of Total Product, Average & Marginal Product, Short Run and Long Run analysis of production, The Law of Variable proportion, Returns to scale,
Production Cost – Concept of Cost, Classification of Short run cost – Long run cost,
This presentation gives an idea on 3 topics. cvp analysis, operating leverage and also the estimation of cost functions. hope the readers can make the best use of it.
In the long-run a firm can amend its size and organization to violate demand conditions. In other words, in the long-run the firm can adjust its scale of operations or size of plant to produce any required output in the most efficient way. Thus, in the long run fixed factors can be altered. Management can be restructured to run a firm of a different size. Capital can also be used differently. In short, all factors are variable in the long run and therefore the scale of operations can be altered
Here we briefly talk about the theory of cost function. Discussion subject-
1.Short run & Long run
2.Total cost curve
3.Marginal cost curve
4.Short run cost of 4 different
plant
5.Long run average cost curve
6.ISO cost curve
7.ISO Quant curve
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...
Long Run Cost Function
1. COST ANALYSIS – Part III
Long Run Cost Function
Lt.Raison Sam Raju
(M.Com, B.Ed., PGDIBO,UGC-NET-JRF,SET)
Assistant Professor in Commerce & Associate NCC Officer
Mar Thoma College, Tiruvalla
2. Rewind & Forward
• Determinants of Cost
• Cost Output Relationship in short run
• Long run Cost Function
• Optimum Firm
3. Cost Function in Long Run
• Comment the definition of Long Run.
• Features of Long Run
• No Fixed Cost
• We can increase the level of production by expanding the existing plant.
• Firms are able to expand the scale of their operation by purchasing larger quantity of all
inputs.
• In Long run all factors are variable so Cost - output relation imply the
relation between TC and Q.
• The Long Run Cost output relation is influenced by Law of Returns to
Scale.
4. Cost Output Function in Long Run
• In Long Run a firm can move from one plant to another.
• Firm can acquire a larger plant if want to increase output and smaller
plant if it reduces output.
• For each plant size or scale of production, the firm has separate Short
run Average Cost Curve.
• Long Run Average Cost Curve composed of series of SAC.
5. Derivation of LAC
• Long Run Average Cost Curve composed of series of SAC depends on
possible sizes of plants.
• In the figure below: we can see 3 SAC – SAC1, SAC2, SAC3. of three
plants.
• SAC1 : Avg. Cost Curve of Small plant
• SAC2 : Avg. Cost Curve of Medium plant
• SAC3 : Avg. Cost Curve of larger plant
6. Derivation of LAC
• Up to OP unit of output, small plant is profitable. Because AC is very low.
• The AC up to production of OP is PB.
• The production below OP, ie, OM can also be produced with small plant
and medium plant.
• If produces with small plant, AC will be MA
And for Medium plant, AC will be ML.
Comparing ML and MA, we can conclude that
up to to the production of OM or OP,
small plant is preferable.
7. Derivation of LAC
• Production between OP units and OR units, Medium size plant is more
profitable. Because AC is QC.
• The same can also be operated with small firm, but AC will be QK.
• Compared to QC and QK, Medium size plant is more profitable.
8. Derivation of LAC
• For the production beyond OR, Large size plant is better, due to reduced cost
per unit.
• As said earlier, There is a series of SAC curves in long run.
• The long run Avg. cost curve is tangent to all short run cost curves
• LAC curve envelops all the short run cost curves, its also known as Envelope
Curve.
• As we seen the case of Small, Medium Large size plants,
LAC curve helps in the determination of appropriate plant size.
So LAC curve is also known as planning Curve.
9. Long Run Marginal Cost Curve
• LMC curve represents the cost of producing additional output when all inputs
vary.
• Like LAC, LMC curve is derived from SMC curves.
• SAC and LAC are equal at point where LAC curve is tangent to SAC curves.(P,Q,R
in fig.)
• As above SMC and LMC is equal corresponding to above points.(S,Q,T in fig.)
• LMC is obtained by drawing a curve connecting
points S,Q,T
• LMC curve intersects LAC curve at its lowest point.
10. Least Cost Input Combination
• The conditions for Least Cost Input Combination in Long run are as follows :
• SMC = SAC = LAC = LMC
• LMC curve intersects LAC curve at its lowest point.
• ON is the optimum Output level and Min. Cost / Output is NQ.
• The firm which achieves the above level is known as optimum firm.
11. Optimum Firm
• We already discussed the concept, ‘optimum firm’, both in short run
and Long Run.
• A firm reaches the optimum level of production where AC = MC.
• Maximum Productivity or Maximum efficiency point of the firm.
• At this point, the cost of production per unit will be the lowest.
• Optimum Level is not the maximum profit level.
• A firm reap its maximum profit only when its MC = MR.
12. Thank You
“The word Crisis is composed of two characters – one represents
danger and one represents opportunity. “ John F Kennedy.
It is that positivity we need to Cultivate right now and emerge stronger.
Be positive and stay negative to Covid19
• Stay Home….Stay Safe