Question

Cost function is simply the production function expressed in ___ units
A. Monetary
B. Physical
C. Time
D. Percentage.

Answer 1

Answer:

Physical

I hope it help you

Answer 2

Answer:

B. Physical

Explanation:

• The production function describes a boundary or frontier that represents the maximum amount of output that may be obtained from any given set of inputs.
• The production function is used by businesses to calculate how much output they should generate given the price of a thing and what mix of inputs they should employ to produce given the cost of capital and labour.
• The production function also provides information on increasing or diminishing returns to scale, as well as labour and capital marginal products.

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