Solved

Economists Think of a Business as a Machine,where You Put

Question 59

Multiple Choice

Economists think of a business as a machine,where you put inputs in one end and get outputs from the other end.This metaphor is called the

A) revenue process.
B) cost process.
C) profit process.
D) production function.

Related Questions

Q54: As the market price of a good

Q55: Cost is what a business receives after

Q56: One strategy for long-term profit maximization is<br>A)

Q57: The total cost of production is determined

Q58: Economists generally assume that the main goal

Q60: Businesses have two types of cost: fixed

Q61: If June can earn $1,500 in revenue

Q62: Variable costs are also known as<br>A) long-term

Q63: The price of labor per unit times

Q64: Inputs for a business are the goods