https://freedoms4.org/uninotes/s1/et-dcm1107/unit6/Recent content in Unit 6 on Freedoms4Hugoen-usyour-email@example.com (Freedoms4)your-email@example.com (Freedoms4)https://freedoms4.org/uninotes/s1/et-dcm1107/unit6/self/Mon, 01 Jan 0001 00:00:00 +0000your-email@example.com (Freedoms4)https://freedoms4.org/uninotes/s1/et-dcm1107/unit6/self/<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>