Teaching UGC NET Mock Test Series 2025 (Paper 1 & 2) Business Statistics and Research Methods Production Function
In the short‐run production function, which one of the following is CORRECT?
1
Technology is assumed to change as labour input changes
2
Technology is assumed to change as capital stock changes
3
Technology is assumed to change positively until diminishing returns set in
4
Technology is assumed to be constant for a given production function relationship