{"id":6398,"date":"2018-02-05T15:35:40","date_gmt":"2018-02-05T15:35:40","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/chapter\/outcome-defining-production\/"},"modified":"2024-04-25T21:45:29","modified_gmt":"2024-04-25T21:45:29","slug":"introduction-to-production","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/chapter\/introduction-to-production\/","title":{"raw":"Introduction to Production","rendered":"Introduction to Production"},"content":{"raw":"

What you'll learn to do:\u00a0explain production and the production function<\/h2>\r\n[caption id=\"attachment_9198\" align=\"aligncenter\" width=\"878\"]\"Image Figure 1.<\/strong> Steel production and wheat production have different and distinct production needs.[\/caption]\r\n\r\nBusinesses engage in production. What does that mean exactly? What is involved? How is steel production different from growing wheat?\u00a0In this section, we will begin to\u00a0learn about the behavior of firms, how they make production decisions, and how production costs depend on a firm's production function.","rendered":"

What you’ll learn to do:\u00a0explain production and the production function<\/h2>\n
\"Image<\/p>\n

Figure 1.<\/strong> Steel production and wheat production have different and distinct production needs.<\/p>\n<\/div>\n

Businesses engage in production. What does that mean exactly? What is involved? How is steel production different from growing wheat?\u00a0In this section, we will begin to\u00a0learn about the behavior of firms, how they make production decisions, and how production costs depend on a firm’s production function.<\/p>\n\n\t\t\t

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Candela Citations<\/h3>\n\t\t\t\t\t
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CC licensed content, Original<\/div>