Use the following two statements to answer this question: I. Production functions describe what is technically feasible when the firm operates efficiently.
II) The production function shows the least cost method of producing a given level of output.

A) Both I and II are true.
B) I is true, and II is false.
C) I is false, and II is true.
D) Both I and II are false.

I is true because production functions indeed describe the technically feasible ways of producing output efficiently, without specifying the cost. II is false because the production function itself does not show the least cost method of production; it simply shows the maximum output possible from a given set of inputs. Cost considerations are part of cost functions, not production functions.