Question

The production function  describes:

Answer 1

Production function is a border and represent the production output disposable from each possible inputs. It also represent the increasing and decreasing in return of scale and marginal product of labour and capital.

This function use by the manufacturing industries to determine how much output produce for the set price of good and how much input use for the capital and labour.

It also give information about the increasing or decreasing return of scale and marginal product of labour and show capital and labour ratio.