Question

A production function expresses the relationship between:
Options:

• A. Cost and Benefit
• B. Stock and Flow
• C. Demand and Supply
• D. Input and Output

Hint:

A production function maps inputs (like labor and capital) to output, helping firms understand how to optimize production.

Answer 1

The Correct Option is D

A production function shows the relationship between the inputs used in production (such as labor, capital) and the resulting output. It helps in understanding how efficiently resources are being utilized.