B.11 Production in the short run | Production - Microeconomics

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Spanish version: • B.11 Producción a cort...
This video explains the basics of production analysis, focusing on the short run. We first learn how to draw the Average and Marginal productivity, and the explain what the output elasticity is.
Related videos:
-Production function: • B.1 Production functio...
-Returns to scale: • B.12 Returns to scale ...
Related articles:
-Long run production: www.policonomic...
-Very long run production: www.policonomic...
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[@gabrielevercelli9073]

Elasticity E_L is wrongly written. E_L = MP_L / AP_L and not the other way round. Infact in Phase 1, as MP_L is higher than AP_L, elasticity is higher than 1.

[@kedarsensahoo7275]

Could you please say the source from which you are referring particularly the extensive margin and intensive margin

[@anantrana4289]

what if input remains same ? can we say it has infinite elasticity?