The Production Function Describes the Relationship Between
I The production function is a flow concept. Attributes of Production Function.
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Iii The production function of a firm depends on the state of technology and inputs.
. Ii A production function is a technical relationship between inputs and outputs expressed in physical terms. A raw material also known as a feedstock unprocessed material or primary commodity is a basic material that is used to produce goods finished products energy or intermediate materials that are feedstock for future finished productsAs feedstock the term connotes these materials are bottleneck assets and are required to produce other products. The following are the important attributes of production function.
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