"Production function establishes a technical relation between inputs and output, and not economic relation". Comment.

"Production function establishes a technical relation between inputs a

1.	"Production function establishes a technical relation between inputs and output, and not economic relation". Comment.
Answer» Solution :The GIVEN statement is correct. Production function establishes only a TECHNICAL between inputs and OUTPUT. It is not economical in nature as we do not consider the value of inputs ad output.