Production Function Graph Microeconomics. The short run is defined as the period of time in which at least one input is fixed. These are like a consumers indifference curves.
When both inputs in a two-input production function are variable the production function is graphed as an isoquant map. Production functions describe how output is determined by various inputs. We can use this production function to find the total product of labor the marginal product of labor and the average product of labor.
A graph showing an isoquant for the production function qkl with q120.
Q f L K Q f L K where L represents all the variable inputs but we can typically think of the quantity of labor and K represents all the fixed inputs but we will typically think of as physical capital. On the second graph plot the marginal product of labor for Babel. Functions of Product Markets Demand and Supply. Q f L K displaystyle Qfleft Ltext Kright Q f LK where L represents all the variable inputs and K represents all the fixed inputs.
