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Production and cost — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsProduction and cost1 Mark
Question
A production function states that there exists a technical relationship between:
  1. Input prices and output prices.
  2. Input prices and quantity of output.
  3. The quantity of inputs and the quantity of output.
  4. The quantity of inputs and input prices.
✓

Answer

  1. The quantity of inputs and the quantity of output.

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