In the production function Y = A(G,P,T)F(K,R,H,N),the factors that affect the entire production process are
A)G,R,H.
B)G,P,T.
C)P,T,K.
D)KRHN.

Question

Quizplus · Accepted Answer

A, F, K, R, and H are all individual factors of production that contribute to output, but they do not affect the entire production process. The factors that affect the entire production process are A, G, P, and T, as changes in any of these will impact the overall level of output. Therefore, option B is the correct answer.

In the Production Function Y = A(G,P,T)F(K,R,H,N),the Factors That Affect