The production function describes:
a. the relationship between the quantity of inputs utilized and the quantity of output produced.
b. how inputs are most profitably used in production
c. the most cost-effective method of combining various inputs in the production process.
d. the relationship between a firm's revenue and its level of production.
a
Economics
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Which of the following is exempt from taxation (a tax exemption)?
a. interest on a home mortgage b. interest from municipal bonds c. rent d. property taxes
Economics
When demand is perfectly elastic the entire tax burden falls on the _____.
Fill in the blank(s) with the appropriate word(s).
Economics