A Production Function

question 22

Multiple Choice

A production function

• A) shows the functions of production such as income, welfare, and employment.
• B) reflects the technological constraints with which a firm must reckon.
• C) shows the output necessary to produce one unit of input.
• D) is a theoretical concept having no relevance to real-world production.
• E) quantifies the amounts of variable inputs needed to produce fixed inputs.

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Definitions:

Logical Fallacy

A logical fallacy is an error in reasoning that undermines the logic of an argument.

Logical Fallacy

An error in reasoning that renders an argument invalid.

False Cause

A logical fallacy where it is erroneously assumed that one thing is the cause of another because of a sequence of events.

Bloom's Taxonomy

A classification system used to define and distinguish different levels of human cognition – understanding, learning, and thinking.