A production function shows the relationship between:
A production function shows the relationship between:
A) the quantity of inputs used in production and the quantity of output from production
B) gross domestic product and national income
C) workers as inputs and consumers as buyers
D) production and spending

Question

Quizplus · Accepted Answer

A production function illustrates the relationship between the inputs used in production and the output generated from production. It allows firms to determine the most efficient combination of inputs to produce the desired level of output.

A Production Function Shows the Relationship Between