Question

what is meant by production function ????​

Answer 1

production function studies the functional relationship between physical inputs and physical output

Answer 2

PRODUCTION FUNCTION REFERS TO THE AMOUNT OF THE INPUTS USED TO PRODUCE THE AMOUT OF OUTPUT. IT IS A TECHNICAL CONCEPT.

Gx = F(L,K,R,N,T)

Gx= Output

f= functional relationship

L= amount of raw materials

K= amount of capital

R= amount of land/ natural resources

T= state of technology