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production function sample plots

production function sample plots - aaaaaa el i 2 A.A Zero...

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Unformatted text preview: aaaaaa el / i ,, 2 A! ..A Zero . Profit 0 ‘4 ' v imum Profit Cost Functions and Profit Functions \va': . f "iugu’ h” ' Pro fit TC VC or f .r ._ / Minimum slope of TC , Minimum slope of TVC Inflection Point Cost Functions on the Output Side —L N O ___1_ I I 100 80 ...__..!.___.._._..__._ T. ._ so ,_ .. 5‘7 MPP Miaximum ; j : Inflectiogn Point 40 L--. ..___:________..._._.-_L __..___.__...____ _ _ _ __ _ -m .......... __ _ ___ I i i ' a i z 20 L 0 __ __*'_____ __ _ _____ __..____ x l ' g 60.87 91.30: 181.60} I I \A \ i i ' _L_I_%J_4'_J_I_J_J__I_L_I_L_L_+_J_L_l I Lid; i_|_| _L_:_! 1_|_I L_L o 50 g g 100 150 g 200 X MPP APP 0.6 0.5 0.4 0.3 0.2 0 50 100 150 ‘ 200 X T PP, MPP and APP for Com ()2). Response to Nitrogen (x) or / / Tpp I Slope Equals Zero Slope Equals / ’~ — i — MPP Equals / Maxim m l i Maximum 3/ :TPPI APP /‘ Maxim:um I '/ APP TPP y = f(x1 ) Inflection i Point x1 MPP or APP ‘ APP x 1 A Neoclassical Production Function MPP ...
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