Examlex
Convert the information given in the table below from SI units to U.S.Customary units.
Production Function
An equation that describes the relationship between inputs used in production and the output generated from those inputs.
Factor Prices
The market prices of the inputs used in production, such as labor, capital, and land.
Minimum Cost
The lowest possible expense that can be incurred in the production of a good or service without sacrificing the quality or quantity.
Cost of Producing
The total expense incurred in the manufacture or production of a good, including raw materials, labor, and overhead.
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