Which of the Following Statements Is NOT True About the Production

question 167

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.

---

Definitions:

Felony

A serious criminal offense, typically punishable by imprisonment for more than one year or by death.

Capital Offense

A crime punishable by death or life imprisonment, typically reserved for the most serious offences like murder or treason.

Maximum Penalty

The most severe punishment that can be imposed for a particular offence by a court of law.

Life Imprisonment

A sentence of imprisonment for a crime where the convicted person is to remain in prison for the rest of their life.