Question

The role of production function in the manufacturing process

Answer 1

to much important role in manufacturing processes

Answer 2

Answer:

The role of production function in manufacturing is vital.

Production function actually tells the manufacturer that how effectively he is able to process the raw material into manufactured products. Firms use the production function to determine how much output they should produce given the price of a good, and what combination of inputs they should use to produce given the price of capital and labor.

Production function can be used to identify the increasing marginal cost.