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Anonymous
Dec 6, 2023

What is production function? ?

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Dec 6, 2023
A production function is a mathematical representation that shows the relationship between the inputs used in the production process and the output generated. It describes how much output can be produced from a given combination of inputs, such as labor, capital, and technology. The production function helps businesses and economists understand the efficiency and productivity of the production process and make decisions regarding resource allocation and production levels.
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