Economics · Production Function
Which of the following is not a structural feature or assumption/attribute of a standard production function?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It represents the purely technical relationship between inputs and outputs
- 2The quantity of inputs is always kept completely fixed and static✓
- 3It depends on a given state of technology
- 4It is a flow concept
Correct answer
The quantity of inputs is always kept completely fixed and static
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