Question

the production function showsthe incremental output gained by improving the production technology used to produce total cost of producing a given quantity of maximum output that can be produced from each possible quantity of inputs

Answer 1

The correct answer is the maximum output that can be produced from each possible quantity of inputs

Examples:The production function shows the relationship between physical output and physical inputs or factors of production. It describes the limit of output obtainable from each feasible combination of input. The production function does not show the technology used to produce output, the incremental output gained by improving the production process, or the total cost of producing a given quantity of output.