Question : The production function can be expressed as (where L is labour, C is capital, and Q is the maximum output that can be produced).
Option 1: Q = f(C)
Option 2: L = f(Q, C)
Option 3: Q = f(L)
Option 4: Q = f(L, C)
New: SSC CHSL tier 1 answer key 2024 out | SSC CHSL 2024 Notification PDF
Recommended: How to crack SSC CHSL | SSC CHSL exam guide
Don't Miss: Month-wise Current Affairs | Upcoming government exams
Correct Answer: Q = f(L, C)
Solution : The correct answer is Q = f(L, C) .
The production function is often Q = f(L, C), where Q indicates the maximum output possible given the inputs. In this equation, L represents the labour required in the manufacturing process, while C represents the capital used. The function f expresses the precise relationship between the inputs and outputs. The equation Q = f(L, C) depicts the concept of production technology, which outlines how businesses convert inputs into outputs.
Related Questions
Know More about
Staff Selection Commission Combined High ...
Result | Eligibility | Application | Admit Card | Answer Key | Preparation Tips | Cutoff
Get Updates Brochure
Your Staff Selection Commission Combined Higher Secondary Level Exam brochure has been successfully mailed to your registered email id “”.
