In Equation Form,the Production Function for a Single Firm Can

question 112

Multiple Choice

In equation form,the production function for a single firm can be expressed as:

• A) q = f(human capital, physical capital).
• B) q = f(price of output, price of inputs).
• C) q = f(labor, price of inputs).
• D) q = f(price of inputs, profit).
• E) q = f(production cost, profit).

---

Definitions:

Principles

Fundamental truths or propositions that serve as the foundation for a system of belief or behavior or for a chain of reasoning.

Human Behavior

The range of actions and mannerisms exhibited by humans, influenced by culture, attitudes, emotions, values, and genetics.

Behaviorists

Psychologists who study and theorize that all behaviors are acquired through conditioning and interaction with the environment.

Conditioning

A psychological process through which behavior is learned by associating an action with a particular outcome.