The Function Which Shows Combinations of Inputs That Yield the Same

question 61

Multiple Choice

The function which shows combinations of inputs that yield the same output is called a(n) :

• A) isoquant curve.
• B) isocost curve.
• C) production function.
• D) production possibilities frontier.

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Definitions:

Responsiveness

The ability of a company, organization, or system to quickly and effectively react to changes, inquiries, or demands.

Total Demand

The entire quantity of a product or service that consumers in a market are willing and able to buy over a specified time period, given all other factors being constant.

Market Share

The portion of a market controlled by a particular company or product, usually expressed as a percentage of total sales in that market.

Uniformly Spread

Evenly distributed or balanced in terms of allocation, use, or occurrence across a specified area or within a particular process.