Introduction to production functions | APⓇ Microeconomics | Khan Academy

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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.
AP(R) Microeconomics on Khan Academy: Microeconomics is the study of individual decisionmakers in an economy, such as people, households, and firms. Learn how markets work, how incentives drive decisionmaking, and how market structure influences market outcomes. We hit the traditional topics from an AP Microeconomics course, including basic economic concepts, markets, production and costs, profit maximization perfect competition, imperfectly competitive market structures, game theory, factor markets, and income inequality.
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[@St4rF0x7]

I love how you break things down. Ifeel like I am in an actual classroom watching you explain on the blackboard. It's the best. So grateful for your explanations.

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im just amazed by your drawing, honestly amazing

[@JonasKristensen-q4b]

🎯 Key Takeaways for quick navigation: 00:00 *Production function basics.* 00:59 *Factors of production.* 02:26 *Bread toasting example.* 03:30 *Constructing production function.* 05:28 *Short run vs. long run.* Made with HARPA AI

[@sobiyeolufemi1230]

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the existence of negative production function justifies a lump sum payment to all to ensure positive production functions

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@Curtis Andre instablaster =)

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[@DisrespectfulBastard]

This is the most simple and clear explanation I've seen yet. Thank you

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Cool

[@DarthCoco]

2:15 Can't lie, that's not a bad drawing of a toaster from first sight.

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Thank you for my very first lesson in economics.

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Clearer than I thought 🤔

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negative production functions should they exist print money by government paid for every good agreed by all payments

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I tooo has grammar

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That writing style look so uncomfortable..

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Thanks a lot, Sir Sal. O:)

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Wow a new economics vid, thanks :D

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Thank you

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Bread👍

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Those bread toasting skills are awesome

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They have an online site for their classes search up "Khan Academy".

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second

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Part 2?

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[@gatlatwal8499]

Please help me calculate this problem Suppose the production is given as Q= F(56L^1/2 -12L+K^2+400)where the value of K=5unit then calculate elasticity of input at total output maximizing level of input

[@robecq]

great video, but the yellow cursor is SOOOO distracting!

[@productionandmarketingfarm3104]

Not really bad, there's more room for improvement .