Question

What is the use of production function in economics?

Answer 1

Answer:

In economics, a production function relates physical output of a production process to physical inputs or factors of production . it is a mathematical function that relates the maximum amount of output that can be obtained from a given number of inputs - generally capital and labor

Answer 2

Answer:

Explanation:

In economics, a production function relates physical output of a production process to physical inputs or factors of production. It is a mathematical function that relates the maximum amount of output that can be obtained from a given number of inputs – generally capital and labor.