Question

What are the short run and long run production functions for Dell laptops?

Answer 1

In the long run the production function is given as,

$Q=f( L, K, M, T, t)$, where,

L = labor

K = capital

M = raw material

T = technology

t = time

In the short run, the production function is given as,

$Q=f(L,K)=constant$

where

L = labor

K = capital