Uhit T

roducho0

Ptoducho achivi tha

Input& labour Capt

eld Outpurt Se vic

INPUT
yiekd OUTPUTr
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Time Houzon
Maket pLod a v e y AhoxtPenad
Lohuh Suppl xed
even p a chone
chane
pHILe vegetable 1ncreaje D Can't
Inrealle the Supply 0 n he Same
da
Shat SHun= The shot run a hme
penlod In Jhich at kast one
inputA ed
The hree stagca Short-ren ptoduchon
Sren by three pdoduc CuVed
total pmdu.ct (tP), aveae ptoductCAP)
and Marg1n Poduct (Me)
 he Ptlod
3:LongKun
e teu
tme whexe the actor&
poduchon and Cota Qre vatTasle

will seanch
Ove long
tha
he tbduc hon echnolo
it pHoduce the dajred
allows
level output the lowext Lodt

4Seular eiod Maxket achvihe than untold

hme hoxLzonA
Over
long short m
hcd aen inluence

actor3

laata pt 5 to eau

Producho0 Functon

A onchonal Stelahonshu between Phyanal

nput C such labortap1kal) and phal
Output

x1 Xn)

Short Run tnalyaa

vauable
Anputa
L,)
The m ubtut xetur
 actor
Subec
And S1e turms actor
lau vatiable poportans

om only e
Outpu+ 3hort un
VOHiable InputA whereal ong
Hhe Change om al the input
because al axe veable

Vasiarta Chehput
ToBa product At meteu t tota amaun t
outpu thad m
pModuces wuthn a ven PeLod
ilisuna Lven InputA

lvexage product Total poduct / labour

Maxginad poduct The addihonal output

phoduced a esult
addung an adduhona input

MP A Output A
Input
 The hau Vooiicble Propostons

Relahondp blus TP

When MP incre a3 TP increase increaag

Hate.

This tonmnus the POLnT when ee MP

Heahe max1mum

When MP deelhnes TP n(reases a

and Stemaun PoALhve decreaing- ate

Thia Conhnue unh TP_reathes maimum

3 When MP beLomeA negahve TP deelLne

When MP betomes 0 TP_reache ts

maxmum
Wot Re lap1ta TP AP MP
xed) wor kens_

2 3
3 3
3 3
12
2 8
2 S

IS 14

MP s Hale Chanpe in TP

When we' make uve we get

inventcd -shaped Ave