Examlex
The pressure exerted by a column of liquid is equal to the product of the height of the column times the gravitational constant times the density of the liquid, P = ghd. How high a column of water (d = 1.0 g/mL) would be supported by a pressure that supports a 713 mm column of mercury (d = 13.6 g/mL) ?
Inputs
The resources used in the production of goods and services, such as labor, raw materials, and capital.
Production Function
An equation that describes the maximum output of a firm, given the quantity of inputs it uses, illustrating the relationship between inputs and outputs.
Isoquant
A curve representing all combinations of inputs that produce the same level of output in production theory.
Output
The amount of goods or services produced by a person, machine, factory, or system over a certain period.
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