Add: ET unit-6 self

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hyzen
2026-05-02 01:22:19 +05:30
parent dc267cb61c
commit 0f544645e3
17 changed files with 939 additions and 19 deletions

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title: "Changelog"
---
## [2026-05-01]
### [2026-05-02]
- Added UniNote ET DCM1107 Uni6 Self.
### [2026-05-01]
- Added UniNote ET DCM1107 Uni5 Self.
## [2026-04-20]
### [2026-04-20]
- Added UniNote PBM DCM1110 Uni4 Self.
## [2026-04-15]
### [2026-04-15]
- Added UniNote PBM DCM1110 Uni3 Self.
## [2026-04-15]
### [2026-04-15]
- Added UniNote BO DCM1109 Uni3 Self.
## [2026-04-14]
### [2026-04-14]
- Changelog page.
- Removed year from footer copyright.
- "Contents" style UniNotes page.

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+++
draft = false
title = 'Unit 6'
unit = 'Unit 6'
layout = 'unit-choice'
url = '/uninotes/s1/et-dcm1107/unit6/'
+++

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+++
draft = false
semester = ['S1']
subjectcode = ['ET DCM1107']
unit = 'Unit 6'
notecategory = 'Self'
title = 'Unit 6'
toc = true
url = '/uninotes/s1/et-dcm1107/unit6/self/'
uniturl = '/uninotes/s1/et-dcm1107/unit6/'
+++
### ***May 02, 2026***
## Production Function
The production function states the functional relationship between the factors of production and the number of products.
Q = f (L, C, N)
Here, Q = Quantity of output, L = labour, C = capital, N = land.
## Time Elements in Production Function
### A) Short run
In the short run, only some of the inputs can be varied, but not all. Some factors will remain fixed, and some will be variable.
### B) Long run
In this period, not only can variable factors be increased or decreased, but fixed factors
can also be changed. In other words, all factors of production can be varied.
### C) Very long run
This time period is so long that even the state of technology is also changed. Such technological changes are initiated by a long process of continuous research and development and it takes a very long time to apply.
## Three Aspects of the Production Function
### A) Total Production (TP)
Total production refers to the total units of output produced per unit of time by all factor inputs. In the short run, the total output increases because of the alteration in the variable factor inputs, shown mathematically in the equation:
TP = f (QVF)
Where, f = functional relationship, QVF = the quantity of variable factors.
### B) Average Production (AP)
AP = TP/QVF
Where, TP = Total Production, QVF = the quantify of variable factors.
### C) Marginal Production (MP)
Marginal production refers to the additional units produced with the usage of the last variable factor. In other words, it is the change in total production that takes place due to the addition of a variable factor. All other factors remain constant, and the addition realized in the total product is the marginal product (M.P.). Mathematically, it is shown as:
MP = n 1
Where, MP = Marginal Production, n = total output increased due to the addition of one unit of the variable factor (n - 1 = total no. of factors before the increase of a marginal unit).

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View File

@@ -355,4 +355,15 @@ purposes. Profits are reinvested to promote their objectives. Example: CRY Found
&lt;/h2&gt;&lt;p&gt;Explicit costs are direct, out-of-pocket payments that a business or individual makes for the use of resources or services. These costs are tangible, measurable, and recorded in accounting books, including expenses like rent, utility bills, wages, raw materials, and interest on borrowed capital.&lt;/p&gt;
&lt;h2 class="heading" id="implicit-cost"&gt;
Implicit Cost&lt;span class="heading__anchor"&gt; &lt;a href="#implicit-cost"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h2&gt;&lt;p&gt;Implicit costs are not directly paid out or recorded in financial statements, but represent the opportunity costs of using resources owned by the firm or individual. Examples include the forgone salary if an entrepreneur works in their own business instead of being employed elsewhere, or the interest income sacrificed by investing personal funds in the business rather than elsewhere.&lt;/p&gt;</description></item><item><title>XMPP Account</title><link>https://freedoms4.org/services/xmpp-account/</link><pubDate>Mon, 01 Jan 0001 00:00:00 +0000</pubDate><author>your-email@example.com (Freedoms4)</author><guid>https://freedoms4.org/services/xmpp-account/</guid><description>&lt;p&gt;Send your desired username to &lt;a href="mailto:hyzen@freedoms4.org"&gt;hyzen@freedoms4.org&lt;/a&gt; via Email (or via XMPP if already have an XMPP account). Account creation can take upto 24 hours.&lt;/p&gt;</description></item></channel></rss>
&lt;/h2&gt;&lt;p&gt;Implicit costs are not directly paid out or recorded in financial statements, but represent the opportunity costs of using resources owned by the firm or individual. Examples include the forgone salary if an entrepreneur works in their own business instead of being employed elsewhere, or the interest income sacrificed by investing personal funds in the business rather than elsewhere.&lt;/p&gt;</description></item><item><title>Unit 6</title><link>https://freedoms4.org/uninotes/s1/et-dcm1107/unit6/self/</link><pubDate>Mon, 01 Jan 0001 00:00:00 +0000</pubDate><author>your-email@example.com (Freedoms4)</author><guid>https://freedoms4.org/uninotes/s1/et-dcm1107/unit6/self/</guid><description>&lt;h3 class="heading" id="may-02-2026"&gt;
&lt;em&gt;&lt;strong&gt;May 02, 2026&lt;/strong&gt;&lt;/em&gt;&lt;span class="heading__anchor"&gt; &lt;a href="#may-02-2026"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h3&gt;&lt;h2 class="heading" id="production-function"&gt;
Production Function&lt;span class="heading__anchor"&gt; &lt;a href="#production-function"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h2&gt;&lt;p&gt;The production function states the functional relationship between the factors of production and the number of products.&lt;/p&gt;
&lt;p&gt;Q = f (L, C, N)&lt;br&gt;
Here, Q = Quantity of output, L = labour, C = capital, N = land.&lt;/p&gt;
&lt;h2 class="heading" id="time-elements-in-production-function"&gt;
Time Elements in Production Function&lt;span class="heading__anchor"&gt; &lt;a href="#time-elements-in-production-function"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h2&gt;&lt;h3 class="heading" id="a-short-run"&gt;
A) Short run&lt;span class="heading__anchor"&gt; &lt;a href="#a-short-run"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h3&gt;&lt;p&gt;In the short run, only some of the inputs can be varied, but not all. Some factors will remain fixed, and some will be variable.&lt;/p&gt;</description></item><item><title>XMPP Account</title><link>https://freedoms4.org/services/xmpp-account/</link><pubDate>Mon, 01 Jan 0001 00:00:00 +0000</pubDate><author>your-email@example.com (Freedoms4)</author><guid>https://freedoms4.org/services/xmpp-account/</guid><description>&lt;p&gt;Send your desired username to &lt;a href="mailto:hyzen@freedoms4.org"&gt;hyzen@freedoms4.org&lt;/a&gt; via Email (or via XMPP if already have an XMPP account). Account creation can take upto 24 hours.&lt;/p&gt;</description></item></channel></rss>

View File

@@ -8,4 +8,4 @@
<a href=/signup/ class=mobile-link>Sign Up</a>
<a href=/semester/index.xml class="mobile-link mobile-link--subscribe"><svg viewBox="0 0 24 24" width="12" height="12" fill="currentColor" aria-hidden="true"><path d="M6.18 15.64a2.18 2.18.0 012.18 2.18c0 1.19-.98 2.18-2.18 2.18C4.98 20 4 19.01 4 17.82a2.18 2.18.0 012.18-2.18M4 4.44A15.56 15.56.0 0119.56 20h-2.83A12.73 12.73.0 004 7.27V4.44m0 5.66a9.9 9.9.0 019.9 9.9h-2.83A7.07 7.07.0 004 12.93V10.1z"/></svg>
Subscribe</a></div></div></div></div><nav class="menu language"><ul class="menu__list language__list"><li class=menu__item><a class=menu__link href=/>Home</a></li><li class=menu__item><a class=menu__link href=/blog/>Blog</a></li><li class=menu__item><a class=menu__link href=/services/>Services</a></li><li class=menu__item><a class=menu__link href=/uninotes/>UniNotes</a></li><li class=menu__item><a class=menu__link href=/contact/>Contact</a></li></ul></nav></header><main class=main><nav class="uninotes-breadcrumbs breadcrumbs"><a href=/blog/>Blog</a>
<span>Categories</span></nav><h1><a href=/blog/ style=text-decoration:none;color:var(--accent-color)>All Posts</a> | Categories</h1><section class=term-list><h2 class=term-list__item><a class=term-list__link href=/uninotes/s1/>S1 (12)</a></h2></section></main><footer class=footer><p class=footer__copyright-notice>&copy; <a href=https://freedoms4.org>freedoms4.org</a> <a href=/changelog/>Changelog</a></p><p class=footer__theme-info>Built with <a href=https://gohugo.io>Hugo</a> and based on <a href=https://github.com/CyrusYip/hugo-theme-yue>Yue</a> theme</p></footer><script>(function(){var e=document.getElementById("theme-toggle");if(!e)return;function t(){var e=localStorage.getItem("theme");return e?e:window.matchMedia("(prefers-color-scheme: light)").matches?"light":"dark"}function n(e){document.documentElement.setAttribute("data-theme",e),localStorage.setItem("theme",e)}n(t()),e.addEventListener("click",function(){var e=document.documentElement.getAttribute("data-theme")||t();n(e==="dark"?"light":"dark")})})()</script><script>(function(){var e=document.getElementById("mobile-menu-check");if(!e)return;document.addEventListener("click",function(t){if(!e.checked)return;var n=e.closest(".brand__mobile-menu");n&&!n.contains(t.target)&&(e.checked=!1)})})()</script></body></html>
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@@ -1 +1 @@
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<a href=/uninotes/s1/>S1</a>
<span>ET DCM1107</span></nav><h1>ET DCM1107</h1><ul class="uninotes-list uninotes-list--units"><li class=uninotes-list__item><a class=uninotes-list__link href=/uninotes/s1/et-dcm1107/unit1/>Unit 1</a></li><li class=uninotes-list__item><a class=uninotes-list__link href=/uninotes/s1/et-dcm1107/unit2/>Unit 2</a></li><li class=uninotes-list__item><a class=uninotes-list__link href=/uninotes/s1/et-dcm1107/unit5/>Unit 5</a></li></ul><nav class=page-nav><a class=page-nav__previous-link href=/uninotes/s1/bo-dcm1109/>← BO DCM1109</a>
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@@ -68,4 +68,15 @@ F) Essential goods.&lt;/p&gt;</description></item><item><title>Unit 5</title><li
&lt;/h2&gt;&lt;p&gt;Explicit costs are direct, out-of-pocket payments that a business or individual makes for the use of resources or services. These costs are tangible, measurable, and recorded in accounting books, including expenses like rent, utility bills, wages, raw materials, and interest on borrowed capital.&lt;/p&gt;
&lt;h2 class="heading" id="implicit-cost"&gt;
Implicit Cost&lt;span class="heading__anchor"&gt; &lt;a href="#implicit-cost"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h2&gt;&lt;p&gt;Implicit costs are not directly paid out or recorded in financial statements, but represent the opportunity costs of using resources owned by the firm or individual. Examples include the forgone salary if an entrepreneur works in their own business instead of being employed elsewhere, or the interest income sacrificed by investing personal funds in the business rather than elsewhere.&lt;/p&gt;</description></item></channel></rss>
&lt;/h2&gt;&lt;p&gt;Implicit costs are not directly paid out or recorded in financial statements, but represent the opportunity costs of using resources owned by the firm or individual. Examples include the forgone salary if an entrepreneur works in their own business instead of being employed elsewhere, or the interest income sacrificed by investing personal funds in the business rather than elsewhere.&lt;/p&gt;</description></item><item><title>Unit 6</title><link>https://freedoms4.org/uninotes/s1/et-dcm1107/unit6/self/</link><pubDate>Mon, 01 Jan 0001 00:00:00 +0000</pubDate><author>your-email@example.com (Freedoms4)</author><guid>https://freedoms4.org/uninotes/s1/et-dcm1107/unit6/self/</guid><description>&lt;h3 class="heading" id="may-02-2026"&gt;
&lt;em&gt;&lt;strong&gt;May 02, 2026&lt;/strong&gt;&lt;/em&gt;&lt;span class="heading__anchor"&gt; &lt;a href="#may-02-2026"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h3&gt;&lt;h2 class="heading" id="production-function"&gt;
Production Function&lt;span class="heading__anchor"&gt; &lt;a href="#production-function"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h2&gt;&lt;p&gt;The production function states the functional relationship between the factors of production and the number of products.&lt;/p&gt;
&lt;p&gt;Q = f (L, C, N)&lt;br&gt;
Here, Q = Quantity of output, L = labour, C = capital, N = land.&lt;/p&gt;
&lt;h2 class="heading" id="time-elements-in-production-function"&gt;
Time Elements in Production Function&lt;span class="heading__anchor"&gt; &lt;a href="#time-elements-in-production-function"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h2&gt;&lt;h3 class="heading" id="a-short-run"&gt;
A) Short run&lt;span class="heading__anchor"&gt; &lt;a href="#a-short-run"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h3&gt;&lt;p&gt;In the short run, only some of the inputs can be varied, but not all. Some factors will remain fixed, and some will be variable.&lt;/p&gt;</description></item></channel></rss>

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<span>Unit 6</span></nav><div class=uninotes-meta><span class=uninotes-meta__pill>S1</span>
<span class=uninotes-meta__pill>ET DCM1107</span></div><h1>Unit 6</h1><p class=unit-choice__subtitle>Choose type:</p><div class=unit-choice__options><a class="unit-choice__card unit-choice__card--self" href=/uninotes/s1/et-dcm1107/unit6/self/><div class=unit-choice__icon><svg viewBox="0 0 24 24" width="32" height="32" fill="currentColor"><path d="M12 3 1 9l4 2.18v6L12 21l7-3.82v-6l2-1.09V17h2V9L12 3zm6.82 6L12 12.72 5.18 9 12 5.28 18.82 9zM17 15.99l-5 2.73-5-2.73v-3.72L12 15l5-2.73v3.72z"/></svg></div><div class=unit-choice__label>Self</div><div class=unit-choice__desc>Self-study notes</div></a><div class="unit-choice__card unit-choice__card--live unit-choice__card--unavailable"><div class=unit-choice__icon><svg viewBox="0 0 24 24" width="32" height="32" fill="currentColor"><path d="M17 10.5V7c0-.55-.45-1-1-1H4c-.55.0-1 .45-1 1v10c0 .55.45 1 1 1h12c.55.0 1-.45 1-1v-3.5l4 4v-11l-4 4z"/></svg></div><div class=unit-choice__label>Live</div><div class=unit-choice__desc>Not available</div></div></div></main><footer class=footer><p class=footer__copyright-notice>&copy; <a href=https://freedoms4.org>freedoms4.org</a> <a href=/changelog/>Changelog</a></p><p class=footer__theme-info>Built with <a href=https://gohugo.io>Hugo</a> and based on <a href=https://github.com/CyrusYip/hugo-theme-yue>Yue</a> theme</p></footer><script>(function(){var e=document.getElementById("theme-toggle");if(!e)return;function t(){var e=localStorage.getItem("theme");return e?e:window.matchMedia("(prefers-color-scheme: light)").matches?"light":"dark"}function n(e){document.documentElement.setAttribute("data-theme",e),localStorage.setItem("theme",e)}n(t()),e.addEventListener("click",function(){var e=document.documentElement.getAttribute("data-theme")||t();n(e==="dark"?"light":"dark")})})()</script><script>(function(){var e=document.getElementById("mobile-menu-check");if(!e)return;document.addEventListener("click",function(t){if(!e.checked)return;var n=e.closest(".brand__mobile-menu");n&&!n.contains(t.target)&&(e.checked=!1)})})()</script></body></html>

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<?xml version="1.0" encoding="utf-8" standalone="yes"?><rss version="2.0" xmlns:atom="http://www.w3.org/2005/Atom"><channel><title>Unit 6 on Freedoms4</title><link>https://freedoms4.org/uninotes/s1/et-dcm1107/unit6/</link><description>Recent content in Unit 6 on Freedoms4</description><generator>Hugo</generator><language>en-us</language><managingEditor>your-email@example.com (Freedoms4)</managingEditor><webMaster>your-email@example.com (Freedoms4)</webMaster><atom:link href="https://freedoms4.org/uninotes/s1/et-dcm1107/unit6/index.xml" rel="self" type="application/rss+xml"/><item><title>Unit 6</title><link>https://freedoms4.org/uninotes/s1/et-dcm1107/unit6/self/</link><pubDate>Mon, 01 Jan 0001 00:00:00 +0000</pubDate><author>your-email@example.com (Freedoms4)</author><guid>https://freedoms4.org/uninotes/s1/et-dcm1107/unit6/self/</guid><description>&lt;h3 class="heading" id="may-02-2026"&gt;
&lt;em&gt;&lt;strong&gt;May 02, 2026&lt;/strong&gt;&lt;/em&gt;&lt;span class="heading__anchor"&gt; &lt;a href="#may-02-2026"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h3&gt;&lt;h2 class="heading" id="production-function"&gt;
Production Function&lt;span class="heading__anchor"&gt; &lt;a href="#production-function"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h2&gt;&lt;p&gt;The production function states the functional relationship between the factors of production and the number of products.&lt;/p&gt;
&lt;p&gt;Q = f (L, C, N)&lt;br&gt;
Here, Q = Quantity of output, L = labour, C = capital, N = land.&lt;/p&gt;
&lt;h2 class="heading" id="time-elements-in-production-function"&gt;
Time Elements in Production Function&lt;span class="heading__anchor"&gt; &lt;a href="#time-elements-in-production-function"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h2&gt;&lt;h3 class="heading" id="a-short-run"&gt;
A) Short run&lt;span class="heading__anchor"&gt; &lt;a href="#a-short-run"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h3&gt;&lt;p&gt;In the short run, only some of the inputs can be varied, but not all. Some factors will remain fixed, and some will be variable.&lt;/p&gt;</description></item></channel></rss>

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<!doctype html><html class=html lang=en-us dir=ltr><head><meta charset=utf-8><meta name=viewport content="width=device-width"><title>Unit 6 | Freedoms4</title><link rel=stylesheet href=/css/style.min.34d0accb85f8ec23ceee8c29eef5907823b531d8acb9e6bdf45a3b37ad028d30.css integrity="sha256-NNCsy4X47CPO7owp7vWQeCO1Mdisuea99Fo7N60CjTA=" crossorigin=anonymous><link rel=icon href=/favicon.ico><meta name=description content=" May 02, 2026 # Production Function # The production function states the functional relationship between the factors of production and the number of products.
Q = f (L, C, N)
Here, Q = Quantity of output, L = labour, C = capital, N = land.
Time Elements in Production Function # A) Short run # In the short run, only some of the inputs can be varied, but not all. Some factors will remain fixed, and some will be variable."><meta property="og:url" content="https://freedoms4.org/uninotes/s1/et-dcm1107/unit6/self/"><meta property="og:site_name" content="Freedoms4"><meta property="og:title" content="Unit 6"><meta property="og:description" content="May 02, 2026 # Production Function # The production function states the functional relationship between the factors of production and the number of products.
Q = f (L, C, N)
Here, Q = Quantity of output, L = labour, C = capital, N = land.
Time Elements in Production Function # A) Short run # In the short run, only some of the inputs can be varied, but not all. Some factors will remain fixed, and some will be variable."><meta property="og:locale" content="en_us"><meta property="og:type" content="article"><meta property="article:section" content="uninotes"><meta itemprop=name content="Unit 6"><meta itemprop=description content="May 02, 2026 # Production Function # The production function states the functional relationship between the factors of production and the number of products.
Q = f (L, C, N)
Here, Q = Quantity of output, L = labour, C = capital, N = land.
Time Elements in Production Function # A) Short run # In the short run, only some of the inputs can be varied, but not all. Some factors will remain fixed, and some will be variable."><meta itemprop=wordCount content="350"><meta itemprop=keywords content="S1,ET DCM1107"><link rel=stylesheet href=/css/custom.css><script>(function(){var e=localStorage.getItem("theme");e&&document.documentElement.setAttribute("data-theme",e)})()</script></head><body class=body><header class=header><div class=brand><img src=/logo.png alt="Freedoms4 logo"><h1>Freedoms4</h1><div class=brand__actions><button class=theme-toggle id=theme-toggle aria-label="Toggle theme" title="Toggle dark/light mode">
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<a href=/uninotes/s1/et-dcm1107/unit6/>Unit 6</a>
<span>Self</span></nav><div class=uninotes-meta><span class=uninotes-meta__pill>S1</span>
<span class=uninotes-meta__pill>ET DCM1107</span>
<span class="uninotes-meta__pill uninotes-meta__pill--self">Self</span></div><h1>Unit 6</h1><details class=toc><summary class=toc__summary>Table of Contents</summary><nav id=TableOfContents><ul><li><ul><li><a href=#may-02-2026><em><strong>May 02, 2026</strong></em></a></li></ul></li><li><a href=#production-function>Production Function</a></li><li><a href=#time-elements-in-production-function>Time Elements in Production Function</a><ul><li><a href=#a-short-run>A) Short run</a></li><li><a href=#b-long-run>B) Long run</a></li><li><a href=#c-very-long-run>C) Very long run</a></li></ul></li><li><a href=#three-aspects-of-the-production-function>Three Aspects of the Production Function</a><ul><li><a href=#a-total-production-tp>A) Total Production (TP)</a></li><li><a href=#b-average-production-ap>B) Average Production (AP)</a></li><li><a href=#c-marginal-production-mp>C) Marginal Production (MP)</a></li></ul></li></ul></nav></details><h3 class=heading id=may-02-2026><em><strong>May 02, 2026</strong></em><span class=heading__anchor> <a href=#may-02-2026>#</a></span></h3><h2 class=heading id=production-function>Production Function<span class=heading__anchor> <a href=#production-function>#</a></span></h2><p>The production function states the functional relationship between the factors of production and the number of products.</p><p>Q = f (L, C, N)<br>Here, Q = Quantity of output, L = labour, C = capital, N = land.</p><h2 class=heading id=time-elements-in-production-function>Time Elements in Production Function<span class=heading__anchor> <a href=#time-elements-in-production-function>#</a></span></h2><h3 class=heading id=a-short-run>A) Short run<span class=heading__anchor> <a href=#a-short-run>#</a></span></h3><p>In the short run, only some of the inputs can be varied, but not all. Some factors will remain fixed, and some will be variable.</p><h3 class=heading id=b-long-run>B) Long run<span class=heading__anchor> <a href=#b-long-run>#</a></span></h3><p>In this period, not only can variable factors be increased or decreased, but fixed factors
can also be changed. In other words, all factors of production can be varied.</p><h3 class=heading id=c-very-long-run>C) Very long run<span class=heading__anchor> <a href=#c-very-long-run>#</a></span></h3><p>This time period is so long that even the state of technology is also changed. Such technological changes are initiated by a long process of continuous research and development and it takes a very long time to apply.</p><h2 class=heading id=three-aspects-of-the-production-function>Three Aspects of the Production Function<span class=heading__anchor> <a href=#three-aspects-of-the-production-function>#</a></span></h2><h3 class=heading id=a-total-production-tp>A) Total Production (TP)<span class=heading__anchor> <a href=#a-total-production-tp>#</a></span></h3><p>Total production refers to the total units of output produced per unit of time by all factor inputs. In the short run, the total output increases because of the alteration in the variable factor inputs, shown mathematically in the equation:</p><p>TP = f (QVF)<br>Where, f = functional relationship, QVF = the quantity of variable factors.</p><h3 class=heading id=b-average-production-ap>B) Average Production (AP)<span class=heading__anchor> <a href=#b-average-production-ap>#</a></span></h3><p>AP = TP/QVF<br>Where, TP = Total Production, QVF = the quantify of variable factors.</p><h3 class=heading id=c-marginal-production-mp>C) Marginal Production (MP)<span class=heading__anchor> <a href=#c-marginal-production-mp>#</a></span></h3><p>Marginal production refers to the additional units produced with the usage of the last variable factor. In other words, it is the change in total production that takes place due to the addition of a variable factor. All other factors remain constant, and the addition realized in the total product is the marginal product (M.P.). Mathematically, it is shown as:</p><p>MP = n 1<br>Where, MP = Marginal Production, n = total output increased due to the addition of one unit of the variable factor (n - 1 = total no. of factors before the increase of a marginal unit).</p><nav class=page-nav><a class=page-nav__previous-link href=/uninotes/s1/et-dcm1107/unit5/>← Unit 5</a></nav></main><footer class=footer><p class=footer__copyright-notice>&copy; <a href=https://freedoms4.org>freedoms4.org</a> <a href=/changelog/>Changelog</a></p><p class=footer__theme-info>Built with <a href=https://gohugo.io>Hugo</a> and based on <a href=https://github.com/CyrusYip/hugo-theme-yue>Yue</a> theme</p></footer><script>(function(){var e=document.getElementById("theme-toggle");if(!e)return;function t(){var e=localStorage.getItem("theme");return e?e:window.matchMedia("(prefers-color-scheme: light)").matches?"light":"dark"}function n(e){document.documentElement.setAttribute("data-theme",e),localStorage.setItem("theme",e)}n(t()),e.addEventListener("click",function(){var e=document.documentElement.getAttribute("data-theme")||t();n(e==="dark"?"light":"dark")})})()</script><script>(function(){var e=document.getElementById("mobile-menu-check");if(!e)return;document.addEventListener("click",function(t){if(!e.checked)return;var n=e.closest(".brand__mobile-menu");n&&!n.contains(t.target)&&(e.checked=!1)})})()</script></body></html>

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@@ -321,4 +321,15 @@ purposes. Profits are reinvested to promote their objectives. Example: CRY Found
&lt;/h2&gt;&lt;p&gt;Explicit costs are direct, out-of-pocket payments that a business or individual makes for the use of resources or services. These costs are tangible, measurable, and recorded in accounting books, including expenses like rent, utility bills, wages, raw materials, and interest on borrowed capital.&lt;/p&gt;
&lt;h2 class="heading" id="implicit-cost"&gt;
Implicit Cost&lt;span class="heading__anchor"&gt; &lt;a href="#implicit-cost"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h2&gt;&lt;p&gt;Implicit costs are not directly paid out or recorded in financial statements, but represent the opportunity costs of using resources owned by the firm or individual. Examples include the forgone salary if an entrepreneur works in their own business instead of being employed elsewhere, or the interest income sacrificed by investing personal funds in the business rather than elsewhere.&lt;/p&gt;</description></item></channel></rss>
&lt;/h2&gt;&lt;p&gt;Implicit costs are not directly paid out or recorded in financial statements, but represent the opportunity costs of using resources owned by the firm or individual. Examples include the forgone salary if an entrepreneur works in their own business instead of being employed elsewhere, or the interest income sacrificed by investing personal funds in the business rather than elsewhere.&lt;/p&gt;</description></item><item><title>Unit 6</title><link>https://freedoms4.org/uninotes/s1/et-dcm1107/unit6/self/</link><pubDate>Mon, 01 Jan 0001 00:00:00 +0000</pubDate><author>your-email@example.com (Freedoms4)</author><guid>https://freedoms4.org/uninotes/s1/et-dcm1107/unit6/self/</guid><description>&lt;h3 class="heading" id="may-02-2026"&gt;
&lt;em&gt;&lt;strong&gt;May 02, 2026&lt;/strong&gt;&lt;/em&gt;&lt;span class="heading__anchor"&gt; &lt;a href="#may-02-2026"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h3&gt;&lt;h2 class="heading" id="production-function"&gt;
Production Function&lt;span class="heading__anchor"&gt; &lt;a href="#production-function"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h2&gt;&lt;p&gt;The production function states the functional relationship between the factors of production and the number of products.&lt;/p&gt;
&lt;p&gt;Q = f (L, C, N)&lt;br&gt;
Here, Q = Quantity of output, L = labour, C = capital, N = land.&lt;/p&gt;
&lt;h2 class="heading" id="time-elements-in-production-function"&gt;
Time Elements in Production Function&lt;span class="heading__anchor"&gt; &lt;a href="#time-elements-in-production-function"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h2&gt;&lt;h3 class="heading" id="a-short-run"&gt;
A) Short run&lt;span class="heading__anchor"&gt; &lt;a href="#a-short-run"&gt;#&lt;/a&gt;&lt;/span&gt;
&lt;/h3&gt;&lt;p&gt;In the short run, only some of the inputs can be varied, but not all. Some factors will remain fixed, and some will be variable.&lt;/p&gt;</description></item></channel></rss>