Have an account?
Skip to Content
Build your own quiz
9 questions
Show Answers
See Preview
- 1. Open EndedWhat does the study of production function tell us?
- 2. Open EndedWhat does the production function show us?
- 3. Open EndedWhy does the production function represent short-run production?
- 4. Open EndedWhat is marginal product?
- 5. Fill in the BlankThe ________ of ___________ help companies determine the most profitable number of workers to hire.
- 6. Open EndedWhat are the three stages of production?
- 7. Fill in the Blanklabor is often thought as being the _____ factor of production because workers can be easily replaced and the number of workers changes with demand.
- 8. Fill in the Blank________ is production period so short that only the variable inputs (usually labor) can be changed. _______ is production period long enough to change the amounts of all inputs
- 9. Open Endedwhat is total product?
- Answer choicesTagsAnswer choicesTags