Production function estabilishes a relation between inputs and output, which is technical and not economical in nature.

Production function estabilishes a relation between inputs and output,

1.	Production function estabilishes a relation between inputs and output, which is technical and not economical in nature.
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> :True. Production function establishes only a technical <a href="https://interviewquestions.tuteehub.com/tag/relation-1183220" style="font-weight:bold;" target="_blank" title="Click to know more about RELATION">RELATION</a> between inputs and output. It is not economical in nature as we do not <a href="https://interviewquestions.tuteehub.com/tag/consider-2017521" style="font-weight:bold;" target="_blank" title="Click to know more about CONSIDER">CONSIDER</a> the <a href="https://interviewquestions.tuteehub.com/tag/value-1442530" style="font-weight:bold;" target="_blank" title="Click to know more about VALUE">VALUE</a> of inputs and output.</body></html>