The amount of cost cutting technical innovation introduced into a production process is a function of?

It is a function of Technology

Explanation:

Cost cutting technological innovation is always seen as a new way of maximising profits in production and also minimising the overall cost of production.

This is possible through introduction of policies that take advantage of advancements in technology.

It entails the substitution of a less expensive alternative, developed for a given task, in an essentially unaltered product.