What is the recommended system requirements for installing Hyper-v in production environment?

x64-based processor, x64 Windows Server2008 standard/ Data center/ Enterprise Edition.

In the case of Storage and Memory, its recommended as per your production environment (depends upon servers which you desired to have).

It depend on how much virtual machine you want to run, and what software you want to install.

So i can't answer this question. The recommended system is based on your production environment.

If you know what you want to install, than i can help you