L 6 Production Function20.5.15
- 1. Production Function: Returns to a Factor and Returns to Scale auqpwdn Pln: swDn dw pRqIPl Aqy pYmwny dy pRqIPl 1 pySkS; bldyv isMG lYkcrwr ieknwimks, s.s.s.s.huiSAwrpur (s.A.s.ngr)
- 2. auqpwdn Pln dw ArQ • BOiqk swDnW Aqy BOiqk auqpwdn dy iv`c pwey jwx vwly qknIkI sbMD[ Qx=f(L,K) • (ie`Qy Qx= X vsqU dw BOiqk auqpwdn, • L=ikrq dIAW BOiqk iekweIAW, • K=pMUjI dIAW BOiqk iekweIAW , • F= Pln) 2
- 3. auqpwdn dw ArQ • auqpwdn qoN Bwv AwgqW (kwrkW ) (ikrq, pMUjI,BUmI)dw vsqUAW iv`c rupWqrx hY[ 3
- 4. auqpwdk (Poducer) auqpwdk;iksy ivAkqI jW Prm qoN hY, ijhVw v`Kry auqpwdn dy swDnW nMU kMm auqy lgw ky vsqUAW Aqy syvwvW dw auqpwdn krdy hn[ 4
- 5. ku`l auqpwd (Total Production) iksy smyN AvDI iv`c ie`k ArQivvsQw iv`c auqpwdkW rwhIN auqpwdq vsqUAW Aqy syvwvW dw ku`l joV hY[ TP=APxL (ie`Qy TP=ku`l auqpwdn, AP=AOsq auqpwdn, L= ikrq) 5
- 6. 6 auqpwdn dy swDnW dIAW iekweIAW -ikrq ku`l auqpwdn 1 5 2 10 3 15 4 24 5 30 6 30 7 25 8 20
- 7. 7 5 10 30 TotalProduction 1 2 3 4 5 Units of Factors of Production TP Y X O 6 7 8 15 20 25 5 10 15 24 30 30 25 20 TP
- 8. sImWq auqpwdn (Marginal Production) pirvrqnSIl swDnW dI ie`k iekweI dw ijAwdw jW G`t pRXog krn qy ku`l auqpwd iv`c jo AMqr AwauNdw hY aus nMU sImWq auqpwdn ikhw jWdw hY[ MP= TPn-TPn-1 (ie`Qy MP = sImWq auqpwdn TP= ku`l auqpwdn) 8
- 9. 9 auqpwdn dy swDnW dIAW iekweIAW -ikrq ku`l auqpwdn sImWq auqpwdn 1 5 5 2 9 9-5=4 3 12 12-9=3 4 14 14-12=2 5 15 15-14=1 6 15 15-15=0 7 14 14-15= -1 8 12 12-14= -2
- 10. 10 1 2 3 5Production 1 2 3 4 MY X O -2 P Marginal Production Zero +ve Units of Factors of Production 4 -1 5 6 7 8 -VE
- 11. AOsq auqpwd (Average Production) ku`l auqpwdn nMU pirvrqnSIl swDnW dIAW ku`l iekweIAW nwl Bwg dyx qy AOsq auqpwd ku`l auqpwdn (TP) AOsq auqpwd (AP) =----------------- pirvrqnSIl swDnW dIAW ku`l iekweIAW (L) 11
- 12. 12 auqpwdn dy swDnW dIAW iekweIAW -ikrq ku`l auqpwdn AoOsq auqpwdn 1 3 3 2 8 4 3 15 5 4 24 6 5 25 5 6 24 4 7 25 3.57 8 20 2.5
- 13. 13 1 2 3 5 Production 1 2 3 4 Y XO AP Average Production Units of Factors of Production 4 5 6 7 8 6 3 4 5 6 5 4 3.57 2.5
- 14. auqpwdn Pln “auqpwdn Pln iksy Prm dy auqpwdn swDnW Aqy auqpwdn iv`c sbMD dw nW hY[” Watson “ieh auqpwdn Pln ie`k qknIkI sbMD hY jo ieh d`sdw hY ik ie`k id`qy hoey qknIkI igAwn dy AwDwr’qy AwgqW(Inputs) dI inSicq mwqrw rwhIN ikMnI auqpqI(Output) ho skdI hY[” Lipsy 14
- 15. auqpwdn Pln QoVy smyN dw auqpwdn Pln lMby smyN dw auqpwdn Pln 15
- 16. pirvrqnSIl Anupwq dy inXm rwhIN ivAwiKAw[pihlI ivAwiKAw PrYNc ArQ- SwsqrI trgot(Turgot) auqpwdn dy ie`k swDn nMU siQr r`K ky dUsirAW dI mwqrw iv`c pirvrqn kIqw jWdw hY[ Anupwq bdl jWdw hY[ audwhrx 5 eykV zmIn qy 1 mzdUr Anupwq; 5:1 jy 5 eykV qy 2 mzdUr qW Anupwq ; 5:2 swDnW dy Anupwq’c pirvrqn nwl auqpwdn qy Asr dw ivSlySx kIqw jWdw hY[ 16 QoVy smyN dw auqpwdn Pln
- 17. QoVy smy dw auqpwdn Pln Anupwq qoN v`D dr nwl vDdw Anupwqk dr nwl vDdw G`t dr nwl vDdw 17
- 18. mwnqwvW • 1. ie`k swDn pirvrqnSIl Aqy dUjy swry swDn siQr rihMdy hn[ • 2. siQr Aqy pirvrqnSIl swDnW dy Anupwq iv`c pirvrqn krnw sMBv hY[ • 3.sMgTn Aqy auqpwdn ivDIAW’c pirvrqn nhIN • 4. pirvrqnSIl swDnW dIAW swrIAW iekweIAW ie`k smwn hn[ • 5.inXm QoVy smyN iv`c lwgU [ • 6.inXm swDnW dI mwqrw Aqy auqpwdn dI BOiqk mwqrw iv`c sbMD d`sdw hY[ 18
- 19. siQr swDn BUmI pirvrqnSIl swDn ikrqI TP AP MP ivAwiKAw 10 0 0 - - 10 1 20 20 20 vDdy pRqIPl dI AvsQw10 2 50 25 30 10 3 90 30 40 10 4 120 30 30 Gtdy pRqIPl dI AvsQw 10 5 140 28 20 10 6 156 26 16 10 7 161 23 5 10 8 161 20 0 10 9 153 17 -8 irxwqmk AvsQw 19
- 20. 20 20 40 60 180 Total Production 1 2 3 4 5 G TPCY O 6 F Average/Marginal Production MPC 10 15 2 5 35 O 1 2 3 4 5 6 -8 X X 7 8 9 7 8 9 120 100 80 140 160 5 20 30 40 APC vDdw pRqIPl G`tdw pRqIPl irxwqmk pRqIPl TP 20 50 90 120 140 156 161 161 153 AP 20 25 30 30 28 26 23 20 17 MP 20 30 40 30 20 16 5 0 -8
- 21. swDnW dy v`Ddy pRqIPl dy inXm lwgU hox dy kwrn • (i) siQr swDn dw pUrn aupXog • (ii) pirvrqnSIl swDn dI kuSlqw iv`c vwDw ikrq-vMf sMBv ,kuSlqw iv`c vwDw , sImWq auqpwdkqw v`D jWdI hY • (iii)swDnW iv``c auic`q qwlmyl 21
- 22. swDnW dy G`tdy pRqIPl dy inXm lwgU hox dy kwrn • (i) auqpwdn dy siQr swDn dI Gwt:- • Anupwq G`t ho jWdw hY Aqy G`tdy- v`Ddy swDn dw sImWq auqpwd G`t hox lgdw hY [ • (ii)ApUrn swDn pRqIsQwpnqw • (iii)swDnW dw G`t qwlmyl • (iv) v`D vrqoN 22
- 23. KyqI qy lwgU hox dy kwrn • (i) pRwikrqk kwrn • (ii) BUmI dy aupjwaUpn iv`c Gwt • (iii) ikrq ivBwjn dy G`t mOky • (iv) G`t dyK-ryK • (v) mSInW dI G`t vrqoN • (vi) mOsmI DMdw • (vii) BUmI dy aupjwaUpn iv`c AMqr • (viii) BUmI dI sImq pUrqI 23
- 24. swry swDn pirvrqnSIl , koeI vI swDn siQr nhIN [ dIrGkwl iv`c swry swDnW nMU ie`k hI Anupwq iv`c vDw ky iksy vsqU dy auqpwdn nMU vDwieAw jw skdw hY[ pRqIPl iv`c jo pirvrqn hovygw, aus nMU auqpwdn dy pYmwny dw pRqIPl khWgy[ 24 lMmy smyN dw auqpwdn Pln
- 26. pYmwny dy vDdy pRqIPl • swry swDnW dw pRXog ie`k hI Anupwq iv`c vDwey jwx qy jd auqpwdn iv`c aus Anupwq qoN v`D vwDw hovy qW pYmwny dy v`Ddy pRqIPl dI AvsQw iv`c hovygw [ • audwhrn; jykr auqpwdn dy swDnW iv`c 10% vwDw krn nwl auqpwdn iv`c 15% jW ies qoN v`D vwDw huMdw hy qW ies nMU pYmwny dw v`Ddw pRqIPl ikhw jwvygw[ 26
- 27. ikrqI Aqy pUMjI dIAW iekweIAW TP MP AP 1 10 - 10 2 22 12 11 3 36 14 12 4 52 16 13 5 70 18 14 27
- 28. 28 4 8 12 18 Marginal Production 1 2 3 4 Y X O Increasing Returns Units of Labour and Capital 14 5 16 R I
- 29. pYmwny dy smwn jW siQr pRqIPl • ijs iv`c auqpwdn iv`c ausy Anupwq iv`c vwDw huMdw hY ijs Anupwq iv`c auqpwdn dy swDnW nMU vDwieAw jWdw hY[ • mMn lE ikrq Aqy pUMjI dI mwqrw iv`c 10% vwDw huMdw hY qW ies dy PlsrUp auqpwdn iv`c vI 10% dw vwDw hovygw[ 29
- 30. ikrqI Aqy pUMjI dIAW iekweIAW TP MP AP 1 10 - 10 2 20 10 10 3 30 10 10 4 40 10 10 5 50 10 1 30
- 31. 31 4 8 12 18 Marginal Production 1 2 3 4 Y XO Constant Returns Units of Labour and Capital 14 16 10 R 2 C
- 32. pYmwny dy G`tdy pRqIPl ijs iv`c auqpwdn iv`c pRqISq pirvrqn swry AwgqW iv`c kIqy gey pRqISq bdlwv qoN G`t huMdw hY[ audwhrn; jykr auqpwdn dy swDnW iv`c 15% vwDw krn nwl auqpwdn iv`c 10% vwDw huMdw hY qW ies nMU pYmwny dw G`tdw pRqIPl ikhw jwvygw[ 32
- 33. ikrqI Aqy pUMjI dIAW iekweIAW TP MP AP 1 6 - 6 2 9 3 4.5 3 11 2 3.6 4 12 1 3 33
- 34. 34 1 2 5 Marginal Production 1 2 3 4 Y X O Diminishing Returns Units of Labour and Capital 4 5 3 R D
- 35. 35 THANKS pySks; bldyv isMG sMDU lYkcrwr ArQ ivigAwn, s.s.s.s.huiSAwrpur (s.A.s.ngr)