The technical relationship between the physical... - JAMB Economics 2015 Question
The technical relationship between the physical inputs and the physical outputs of a firm is
A
Utility
B
Cost
C
Demand
D
Production function
correct option: d
production function shows the technical information about the combination of inputs necessary for the production of outputs. In equation we write the production function as q = f (L, K) where L and K represents the inputs of labour and capital respectively.
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