The production function describes:
A) how particular amounts of capital and labor can be combined to generate output.
B) how any amount of capital and labor can be combined to generate output.
C) how any amount of capital and a particular amount of labor can be combined to generate output.
D) how any amount of labor and a particular amount of capital can be combined to generate output.
E) what output would be in a so-called perfect economy.

Question

The production function  describes:
A) how particular amounts of capital and labor can be combined to generate output. 
B) how any amount of capital and labor can be combined to generate output. 
C) how any amount of capital and a particular amount of labor can be combined to generate output. 
D) how any amount of labor and a particular amount of capital can be combined to generate output. 
E) what output would be in a so-called perfect economy.

Quizplus · Accepted Answer

The Answer of The production function  describes:
A) how particular amounts of capital and labor can be combined to generate output. 
B) how any amount of capital and labor can be combined to generate output. 
C) how any amount of capital and a particular amount of labor can be combined to generate output. 
D) how any amount of labor and a particular amount of capital can be combined to generate output. 
E) what output would be in a so-called perfect economy.

The Production Function Describes