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Answer : 4. "Initial information and final output"
Which of the following explains the relationship between production function?
5Q:
Which of the following explains the relationship between production function?
- 1Inputs and final consumptionfalse
- 2Production and consumptionfalse
- 3Output and exportsfalse
- 4Initial information and final outputtrue
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Answer : 4. "Initial information and final output"
Explanation :
In economics, a production function describes the technical relationship between the quantity of physical inputs and the quantity of output of goods.