A production function is an expression of ______ relation between inputs and outputs.
(a) monetary
(b) economic
(c) quantitative
(d) qualitative
Answers
Answer:
B economic esdeifysyss
Answer:
(c) quantitative
A production function is an expression of quantitative relation between inputs and outputs.
Explanation:
A firm's inputs and outputs have some sort of relationship. In economics, this type of relationship is referred to as a production function. ADVERTISEMENTS: A production function expresses the technological relationship between a good's physical inputs and output. The production function is the relationship between the quantity of inputs used to make a good and the quantity of output of that good. A production function is an expression of quantitative relation between inputs and outputs. A production function expresses the technological relationship between a good's physical inputs and output.