Use the following to answer questions:
-(Table: Tonya's Production Function for Apples) Look at the table Tonya's Production Function for Apples. Tonya is operating:
A) in the long run.
B) in the short run.
C) in a very expensive location.
D) at a loss.

Question

Use the following to answer questions: 
-(Table: Tonya's Production Function for Apples) Look at the table Tonya's Production Function for Apples. Tonya is operating:
A) in the long run. 
B) in the short run. 
C) in a very expensive location. 
D) at a loss.

Quizplus · Accepted Answer

Tonya is operating in the short run because the term "production function" typically refers to the short run where at least one input is fixed.

Use the Following to Answer Questions