The production function is
A)the increase in the amount of output from an additional unit of labor.
B)influenced by the productivity of workers.
C)the marginal revenue produce minus the wage rate paid to workers.
D)All of the above are correct.

Question

Quizplus · Accepted Answer

The production function is a relationship that shows how inputs such as labor, capital, and technology are combined to produce output. It is influenced by the productivity of workers because the amount of output that can be produced is dependent on how efficiently and effectively inputs are used, which is determined in part by worker productivity. The production function does not consider marginal revenue, so option C is incorrect. Option A may be a reference to the concept of marginal product of labor, which is related to the production function but is not the same thing. Therefore, option B is the best choice for this question.

The Production Function Is