Density and resin content are two factors that have a significant effect on the production cost of wood composite. However, particle size affects resin content and density, which suggests that the interaction of these three factors can be manipulated to reduce the board density and resin content of particleboard without adversely influencing its mechanical properties. Some mathematical functional forms based on resin content, board density and slenderness ratio were regressed and an appropriate form was chosen. According to analysis of the results using SHAZAM 9 software, the exponential function best fit the experimental data. Finally, “indifference curves” of mechanical properties were illustrated and analyzed. The results indicated that negative effects of density or resin content reduction on mechanical properties could be compensated for by controlling particles’ slenderness ratio. Interestingly, increases in slenderness ratio compensated for the negative effects of decreases in resin content or board density on module of rupture (MOR) and module of elasticity (MOE). Moreover, this “compensation ratio” intensified as resin content or density decreased and/or as the MOR or MOE increased. On the other hand, reduction in slenderness ratio indicated a complementary effect on reducing internal bond (IB) strength, a result of decreases in resin content or density. Moreover, this “complementary ratio” was intensified as resin content or density decreased and/or as IB strength increased.