Which of the Following Statements Is Not True About the Production

question 111

Multiple Choice

Which of the following statements is not true about the production function?

• A) It gives the maximum output that can be obtained for a given level of inputs.
• B) A new production function does not have to be developed when there is technical progress since technology is included in the function.
• C) The production function depends upon the level of technology available to the firm.
• D) It specifies the cost of inputs necessary to produce a certain level of outputs.

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