Published in Scientific Papers. Series "Management, Economic Engineering in Agriculture and rural development", Vol. 20 ISSUE 4
Written by Daniela SIMTION
Fundamental to economic analysis is the idea of production function. It and its close concept of utility function form the poles of the neoclassical economy. The producer - one of the main players in the market economy - aims to perform those activities that ensure the desired output. Thus, the production factors intervene, the combination of which results in different levels of production. The classical theory represents this conditionality between the production factors and their result with the help of production functions. In this paper we characterize the phases of the production function specific to agriculture.
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