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### Course: AP®︎/College Microeconomics>Unit 3

Lesson 1: The production function

# Introduction to production functions

Production functions describe how output is determined by various inputs. The short run is defined as the period of time in which at least one input is fixed. Anything longer than that is considered the long run.

## Want to join the conversation?

• why is it 60 workers? since the work is not being done simultaneously and the goal is to find the slices of toasted bread that can be produced in an hour, couldn't it be assumed that one worker could carry out 60 of the same task rather than having 60 separate workers complete the same task at the same time?
• It is not 60 workers. He is saying that each worker can do 60 in an hour, so the total is equal to 60 times the number of workers
• At , what does it mean when the worker can "process 1 slice per minute"? The toaster can toast 4 in 10 minutes. Does it mean it takes him or her 1 minute to place the bread in the toaster and subsequently 1 minute to take it out once toasted?
• As Sal noted, there is more than one toaster available.
• Can anybody explain clearly, what does mean short run and long run?
• well long run is a period of time when the distinction between 'fixed factor' and 'variable factor' vanishes. All factors are variable factors. Long period is long enough to increase production capacity of a firm
• I liked it when sal said we should try making toast for a day, I'll leave that for Mrbeast. lol.
• Can anybody explain clearly, what does mean short run and long run?
• The long run is a period of time in which all factors of production and all costs are variable, because firms can adjust all costs.
The short run is where some costs are fixed, because firms are only able to influence prices through production-level adjustments. So, the short run may have fixed capital and variable labor costs, and in the long run both labor and capital would be variable (flexible). Hope this helps.
• is 60x workers also considered short run?
(1 vote)
• 2 Weeks; "Up To" a month includes the lesser time period that is 2 weeks.
(1 vote)
• I don't remember learning this in my AP microeconomics class at all. I kept up with all of the work and got decent grades too. Is this something that is still currently tested on the AP test?
(1 vote)
• If you went to public school of course they're not going to teach you this and possibly it just depends on what kind of school or schooling you go to or take
(1 vote)
• Why can't we get mastery on this course?
(1 vote)