Iftekhar's School of Economics - Microeconomics, 3rd Semester, BBA Program: Chapter: Production Theory Short run Production Concepts: Total product: TP is simply the total output that is generated from the factors of
![Difference Between Short Run and Long Run Production Function (with Comparison Chart) - Key Differences Difference Between Short Run and Long Run Production Function (with Comparison Chart) - Key Differences](https://keydifferences.com/wp-content/uploads/2017/07/short-run-vs-long-run-production-function-featured-image.jpg)
Difference Between Short Run and Long Run Production Function (with Comparison Chart) - Key Differences
![Draw a short-run production function and explain where the firm will produce along this curve. | Homework.Study.com Draw a short-run production function and explain where the firm will produce along this curve. | Homework.Study.com](https://homework.study.com/cimages/multimages/16/image_14932226891924252802.jpg)
Draw a short-run production function and explain where the firm will produce along this curve. | Homework.Study.com
1: The Short-Run Production Function Source: Author's own construction | Download Scientific Diagram
![Refer to the short-run production and cost data. In Figure A curve (1) is: A) total product and curve (2) is average product B) total product and curve (2) is marginal product Refer to the short-run production and cost data. In Figure A curve (1) is: A) total product and curve (2) is average product B) total product and curve (2) is marginal product](https://homework.study.com/cimages/multimages/16/cms144420448261902896747.png)