The maximum amount of output that can be produced with given quantities of inputs, under a given state of technical knowledge, is termed as:

CA Foundation · Business Economics · PYQS · May 2026
The maximum amount of output that can be produced with given quantities of inputs, under a given state of technical knowledge, is termed as:
(A) A. Demand Function
(B) B. Production Function
(C) C. Supply Function
(D) D. Investment Function

Suggested Answer and Working Notes:

Correct Answer: Option (B)

B. Production Function

Topics: Theory of Production and Cost

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