A mathematical statement of the way that the quantity of output of a particular product depends on the use of specific inputs or resources is called:
A) a demand curve.
B) a total revenue curve.
C) a production function.
D) the marginal rate of technical) substitution.
E) an isoquant curve

Question

Quizplus · Accepted Answer

A production function is a mathematical statement of the relationship between the inputs used in production and the resulting output. It shows how much output can be produced from different combinations of inputs. The other options listed (such as demand curve, total revenue curve, and isoquant curve) are related to different aspects of economics, but do not directly address the relationship between inputs and output in production.

A Mathematical Statement of the Way That the Quantity of Output