The relationship between factors of production used in the production process and the resulting output is called a(n)
A) economic function.
B) production function.
C) production boundary.
D) cost function.
E) consumption possibilities boundary.

Question

Quizplus · Accepted Answer

The relationship between factors of production and resulting output is known as the production function. This function expresses how much output can be produced with the given inputs or factors of production.

The Relationship Between Factors of Production Used in the Production