A production function is a relationship between inputs and
A)quantity of output.
B)revenue.
C)costs.
D)profit.

Question

Quizplus · Accepted Answer

A production function shows how inputs, such as labor and capital, are used to produce output. Therefore, the relationship is between inputs and the quantity of output. The other choices, revenue, costs, and profit, are influenced by the quantity of output produced, but they are not the direct focus of the production function.

A Production Function Is a Relationship Between Inputs and