Economists use the notation Q = f(L,K) to describe
A) the technological relationship between the inputs that a firm uses and the outputs that it produces.
B) the flow of labour (L) and capital (K) services that are available when output is (Q).
C) the arithmetic relationship between the outputs that a firm uses and the inputs that it produces.
D) the financial relationship between the inputs that a firm uses and the outputs that it produces.
E) the level of output (Q) required to fully employ labour (L) and capital (K).

Question

Quizplus · Accepted Answer

The notation Q = f(L,K) describes the technological relationship between the inputs that a firm uses (L and K) and the outputs that it produces (Q). This means that the function f shows how much output can be generated from a given combination of inputs.

Economists Use the Notation Q = F(L,K) to Describe