The relationship between the inputs that a business uses to produce a good and the output that is produced with those inputs is called what?
A)Production function
B)Marginal product
C)Fixed costs
D)Variable inputs

Question

Quizplus · Accepted Answer

The relationship between the inputs that a business uses to produce a good and the output that is produced with those inputs is called the production function.
Key Takeaway: Production functions are typically discussed in two different terms: short-run and long-run production. With a short-run production function, remember that there is actually no diminishing marginal product because of the fact that all inputs are variable. In the long run, the business runs into economies of scale and other, more complicated economic functions.

The Relationship Between the Inputs That a Business Uses to Produce