CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

Which of the following is NOT an assumption associated with the definition of a production function?


A

Technology remains constant

No worries! We‘ve got your back. Try BYJU‘S free classes today!
B

Both inputs and outputs are measured in monetary units

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
C

The function shows the maximum level of output possible with a given combination of inputs

No worries! We‘ve got your back. Try BYJU‘S free classes today!
D

All units of the inputs are homogeneous

No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution

The correct option is B

Both inputs and outputs are measured in monetary units


Inputs and outputs are not generally measured in monetary units.


flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
The Production Function
ECONOMICS
Watch in App
Join BYJU'S Learning Program
CrossIcon