A mathematical relationship showing the maximum output that can be produced by each, and every combination of inputs is called ______.

CA Foundation · Business Economics · MTP · January 2026
A mathematical relationship showing the maximum output that can be produced by each, and every combination of inputs is called ______.
(A) A. Production equation
(B) B. Production function
(C) C. Production schedule
(D) D. Production identity

Suggested Answer and Working Notes:

Correct Answer: Option (B)

B. Production function

Topics: Theory of Production and Cost

Open in Interactive Practice Hub · Full Practice Hub · Chapter Weightage · More in this subject

Related Questions in this Topic