The relationship between the quantity of inputs and the quantity of outputs is called:
A)a production function.
B)a cost function.
C)a profit function.
D)a resource function.

Question

Quizplus · Accepted Answer

The quantity of inputs and the quantity of outputs are related through a production process, which is described by a production function. A production function shows how much output can be produced from a given set of inputs, such as labor, capital, and materials. Therefore, choice A is the best answer. The other options, cost function, profit function, and resource function, are not directly related to the relationship between inputs and outputs.

The Relationship Between the Quantity of Inputs and the Quantity