Economists use production functions to _____.
A)define what is technically efficient for different combinations of inputs
B)explain the tradeoff between the use of different inputs in production
C)maximize profits for a firm
D)define the marginal utilities associated with the goods produced

Question

Quizplus · Accepted Answer

Production functions are used to define what is technically efficient for different combinations of inputs, showing the maximum output that can be produced with a given set of inputs.

Economists Use Production Functions to _____