The physical relationship between a firm's inputs and its output is described by the productionMultiple choice question.structure.network.function.

A production function describesGroup of answer choiceshow a firm turns inputs into output.the minimal cost of producing a given level of output.how a firm maximizes profits.the relationship between cost and output.

For a firm, the production function represents the relationship betweena.quantity of output and total cost.b.quantity of inputs and quantity of output.c.implicit costs and explicit costs.d.quantity of inputs and total cost.

The outputs of a manufacturing firm are the inputs of a merchandising business.Select one:TrueFalse

The firms primarily operate on the principle of :  A. Price taker and output adjuster  B. Price maker and output giver  C. Price is not important output is important  D. Not a price taker and output adjuster

The goods and services a business uses to produce its outputs are known as ______.Multiple choice question.inputsinsertsingredients