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MICROECONOMICS CH : 7 PRODUCTION FUNTION AND RETURNS TO A FACTOR — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 7 PRODUCTION FUNTION AND RETURNS TO A FACTOR1 Mark
Question
Production function is only a technical relationship between physical inputs and physical output
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Answer

True. Production function is only a technical relationship between physical inputs and physical output. This tells us how best resources can be utilised for maximising output.

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