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- 1. Open-ended30 seconds1 ptWhat does the study of production function tell us?
- 2. Open-ended30 seconds1 ptWhat does the production function show us?
- 3. Open-ended30 seconds1 ptWhy does the production function represent short-run production?
- 4. Open-ended30 seconds1 ptWhat is marginal product?
- 5. Fill-in-the-Blank30 seconds1 ptThe ________ of ___________ help companies determine the most profitable number of workers to hire.
- 6. Open-ended30 seconds1 ptWhat are the three stages of production?
- 7. Fill-in-the-Blank30 seconds1 ptlabor 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-Blank30 seconds1 pt________ 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-ended30 seconds1 ptwhat is total product?
