Relationship between the output and the combination of factors used to obtain it, in an economic activity.
During all the examples, Q is the output quantity per time period and L and K are the inputs quantities per time period.
See more: Linear Production Function.
Q=aL
Q=aLb 0<b<1
Q=aLbKb
See more about the Cobb-Douglas Production Function.
Q=aL+bK
Q=min{aL,bK}
Discussion