Production set: Difference between revisions
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A '''production set''' is the set of all possible output bundles that a firm can produce given its vector of inputs. Used as part of [[profit maximization]] calculations. |
A '''production set''' is the set of all possible output bundles that a firm can produce given its vector of inputs. Used as part of [[profit maximization]] calculations. |
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Revision as of 22:57, 7 November 2010
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A production set is the set of all possible output bundles that a firm can produce given its vector of inputs. Used as part of profit maximization calculations.
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