Which of the following is not an attribute of production function?

The incorrect answer is Quantity of inputs.

Key PointsProduction Function:

• The link between the amounts of productive factors (such as labour and capital) used and the quantity of output obtained is expressed by the production function.
• It specifies the maximum amount of product that can be produced from every combination of variables, given that the best production techniques are applied.

Important PointsFeatures of Production Function

1. A production function is a representation of the functional relationship between the amount of input employed and the amount of output produced.
2. This shows the technical relationship between inputs and outputs which are in physical form.
3. It also denotes the flow of input that will produce the flow of output over a specific period of time.
4. The state of technology affects production. A change in the state of technology will also change the production function.
5. Improvement in the level of technology will increase the output level, even if the amount of input remains the same.
6. A production function has no monetary significance; It only shows the physical relationship.