The Relationship Between Factors of Production Used in the Production

question 9

Multiple Choice

The relationship between factors of production used in the production process and the resulting output is called a(n)

• A)consumption possibilities boundary.
• B)economic function.
• C)production boundary.
• D)cost function.
• E)production function.

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Definitions:

Preset Value

A predefined or user-set value that determines when a certain action should be taken or when a specific condition is met within a system.

Timed Contact

"A normally open and/or normally closed contact that is actuated at the end of a timer’s time-delay period."