The long run refers to a period of time where all factors of production and costs are variable, and the goal is to produce at the lowest cost.

The long-run multiproduct profit function is developed to provide a more general procedure than the static minimum cost function to examine the technological and cost determinants of multiproduct ...

Abstract: The knowledge production function is central to research and development–based growth models. This paper empirically investigates the knowledge production function and intertemporal ...

Over time, better ideas are created and the production possibilities frontier shifts out. This model provides innovation-based microeconomic foundations for a long-run production function of the ...

The shape of this production function is governed by the distribution of ideas. If that distribution is Pareto, then two results obtain: the global production function is Cobb-Douglas, and technical ...

In truth, some had already been more forward-thinking, offering sustainable production methods long before Covid-19, and these companies had an easier time adjusting to the new restrictions.