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| 1. |
Explain the concept of a production function. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/production-14556" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCTION">PRODUCTION</a> function is an expression of the <a href="https://interviewquestions.tuteehub.com/tag/technological-659642" style="font-weight:bold;" target="_blank" title="Click to know more about TECHNOLOGICAL">TECHNOLOGICAL</a> relation between <a href="https://interviewquestions.tuteehub.com/tag/physical-600035" style="font-weight:bold;" target="_blank" title="Click to know more about PHYSICAL">PHYSICAL</a> inputs and output of a good.</body></html> | |