A production table can be used to determine:
A. how much output is produced from a given quantity of inputs.
B. a firm's profits.
C. a firm's costs.
D. how much of a product will be demanded by consumers.
Answer: A
You might also like to view...
If a firm has implicit costs as well as explicit costs
A) accounting profit will be zero. B) net income will always be greater than accounting profit. C) net income will always be less than accounting profit. D) economic profit will be less than accounting profit.
For teenagers, a 10 percent increase in the price of cigarettes leads to a
a. 1 percent reduction in the quantity demanded of cigarettes. b. 4 percent reduction in the quantity demanded of cigarettes. c. 10 percent reduction in the quantity demanded of cigarettes. d. 12 percent reduction in the quantity demanded of cigarettes.