A function that indicates the maximum output per unit of time that a firm can produce, for every combination of inputs with a given technology, is called A. a production possibility curve. B. a production function. C. an isocost function. D. an isoquant.

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Business

Kamron Meadows

2 June, 16:35

A function that indicates the maximum output per unit of time that a firm can produce, for every combination of inputs with a given technology, is called A. a production possibility curve. B. a production function. C. an isocost function. D. an isoquant.

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Kevin · Answer 1

Answer: Option (B)

Explanation:

In discipline such as economics i. e. dismal science, the production function tends to play a vital role. It moreover provides technological affiliation in between the capacity of the physical inputs and the capacity of the output of commodities. This function also describes the frontier that mostly represents the ceiling of the output that is obtainable from each of the achievable combination of the inputs.