“Production function is cost independent”. Explain. – InterviewSolution

InterviewSolution

1.	“Production function is cost independent”. Explain.
Answer» The Production function is only related to the physical quantities of the production. It has no relation with the costs of means of production or the produced goods. But still, this is also true that, when each producer decides the level of production and selects the combination of means, he always keep the price of goods and means in his mind.

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