Production Function Short Answer Type Questions Question
1. State the meaning of “Function”. Answer:
Function is a technical term of mathematics. It means the quantitative
relationship between two variables (independent and dependent variable). Like y
= f (x), in which y is a dependent variable, that depends on the independent
variable x. It means that the value of y is dependent upon the value of x. It
also means that y is that dependent variable which is mathematically related to
the independent variable x. Question
2. State the definition of Function in words of Alfa. C. Chiang. Answer: In words of Alfa. C. Chiang, “Function is a group of combination for
variables (independent and dependent) in a specific order. The specialty of
this function is that any value of X determines a unique value of Y.” Question
3. State any two definitions of Production Function. Answer: Two
definitions of Production Function are: 1.In words of Henderson and Quandt, “Production function
is an engineering concept which explains th…
