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nata0808 [166]
3 years ago
9

A production function describes a. how a firm maximizes profits. b. how a firm turns inputs into output. c. the minimal cost of

producing a given level of output. d. the relationship between cost and output.
Business
1 answer:
leonid [27]3 years ago
8 0

Answer:

d. the relationship between cost and output.

Explanation:

Production function describes how the output of a production function <em>relates </em>to differing levels of input factors such as labor , technology and machine.

The higher the input factors, the higher the physical output whereas, the lower the inputs, the lower the physical outputs of production.

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