Abstract
A production function has been described above as the function relating inputs to outputs of production processes when all inputs are efficiently used. By ‘efficiently’ is meant that no more than is necessary of any input is used in the production of a given level of output.
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© 1987 David F. Heathfield and Sören Wibe
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Heathfield, D.F., Wibe, S. (1987). Technological Progress. In: An Introduction to Cost and Production Functions. Palgrave, London. https://doi.org/10.1007/978-1-349-18721-8_7
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DOI: https://doi.org/10.1007/978-1-349-18721-8_7
Publisher Name: Palgrave, London
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