In the context of microeconomics, which of the following statements best describes the role of optimization techniques in the analysis of a production function?

In microeconomics, optimization techniques help businesses decide how to use their resources most efficiently to produce goods or services. A production function shows the relationship between the inputs used, like labor and materials, and the output produced. By applying optimization, firms can determine the best combination of inputs that maximizes their output or minimizes costs. For example, if a bakery wants to make the most bread with a limited amount of flour and labor, optimization techniques can guide them on how much of each input to use. This process is crucial because it helps businesses increase their profitability and make better decisions.