Multiple Choice
Economists use the notation Q = f(L,K) to describe
A) the flow of labour (L) and capital (K) services that are available when output is (Q) .
B) the financial relationship between the inputs that a firm uses and the outputs that it produces.
C) the arithmetic relationship between the outputs that a firm uses and the inputs that it produces.
D) the technological relationship between the inputs that a firm uses and the outputs that it produces.
E) the level of output (Q) required to fully employ labour (L) and capital (K) .
Correct Answer:

Verified
Correct Answer:
Verified
Q3: The following data show the total output
Q4: The period of time over which the
Q5: The table below shows output,marginal cost,and average
Q6: Suppose a firm with the usual U-shaped
Q7: The table below provides the total revenues
Q9: The relationship between factors of production used
Q10: Which of the following is the best
Q11: A firm can raise financial capital without
Q12: The table below provides information on output
Q13: If a firm uses factor inputs that