A production function describes a. how a firm maximizes profits. b. how a firm turns inputs into output. c. the minimal cost of producing a given level of output. d. the relationship between cost and output.

Respuesta :

Zviko

Answer:

d. the relationship between cost and output.

Explanation:

Production function describes how the output of a production function relates to differing levels of input factors such as labor , technology and machine.

The higher the input factors, the higher the physical output whereas, the lower the inputs, the lower the physical outputs of production.