https://padlet.com/calebjackson0221/mmka3kvy62zv Made en-us 2019-02-27 18:04:46 UTC 2019-02-27 19:09:52 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Dootheets.png calebjackson0221 https://padlet.com/calebjackson0221/mmka3kvy62zv/wish/336083410 a production function is a figure that shows how total output changes when the amount of a single variable input]]> 2019-02-27 18:50:35 UTC https://padlet.com/calebjackson0221/mmka3kvy62zv/wish/336083410 calebjackson0221 https://padlet.com/calebjackson0221/mmka3kvy62zv/wish/336086906 Short Run - a period so brief that only the amount of the variable input can be changed
Long Run - a period long enough for the firm to adjust the quantities of all productive resources, including capital]]> 2019-02-27 18:55:26 UTC https://padlet.com/calebjackson0221/mmka3kvy62zv/wish/336086906 calebjackson0221 https://padlet.com/calebjackson0221/mmka3kvy62zv/wish/336089699 total product - the total output produced by the firm

short run]]> 2019-02-27 18:59:20 UTC https://padlet.com/calebjackson0221/mmka3kvy62zv/wish/336089699 calebjackson0221 https://padlet.com/calebjackson0221/mmka3kvy62zv/wish/336090532 the extra output or change in total product caused by adding one more unit of varibale input]]> 2019-02-27 19:00:25 UTC https://padlet.com/calebjackson0221/mmka3kvy62zv/wish/336090532 calebjackson0221 https://padlet.com/calebjackson0221/mmka3kvy62zv/wish/336092059 increasing returns, diminishing returns, and negative returns]]> 2019-02-27 19:02:47 UTC https://padlet.com/calebjackson0221/mmka3kvy62zv/wish/336092059 calebjackson0221 https://padlet.com/calebjackson0221/mmka3kvy62zv/wish/336093277 it shows an increase in the number of workers, total product, and marginal product]]> 2019-02-27 19:04:31 UTC https://padlet.com/calebjackson0221/mmka3kvy62zv/wish/336093277 calebjackson0221 https://padlet.com/calebjackson0221/mmka3kvy62zv/wish/336094043 it starts to level off and all the total product and marginal product begin to slow down]]> 2019-02-27 19:05:37 UTC https://padlet.com/calebjackson0221/mmka3kvy62zv/wish/336094043 calebjackson0221 https://padlet.com/calebjackson0221/mmka3kvy62zv/wish/336094718 This stage is the stage where everything begins to go down]]> 2019-02-27 19:06:34 UTC https://padlet.com/calebjackson0221/mmka3kvy62zv/wish/336094718