A Firm's Production Function Shows

Multiple Choice

A firm's production function shows:

A) the maximum level of output the firm can produce for any combination of inputs.
B) the least-cost combination of inputs that can be used to produce a given level of output.
C) the average cost associated with the production of various levels of output.
D) the profit-maximizing level of output that can be produced with a given level of inputs.
E) the marginal cost of producing an extra unit of output by employing an extra unit of an input.