The recipe that defines the maximum amount of output that can be produced with K units of capital and L units of labor is the:
A) production function.
B) technological constraint.
C) research and development schedule.
D) total product.

Question

Quizplus · Accepted Answer

The production function describes the relationship between the inputs of capital and labor and the maximum output that can be produced. It defines the maximum amount of output that can be achieved with a given combination of inputs. The other choices do not accurately describe this relationship.

The Recipe That Defines the Maximum Amount of Output That