A firm's production function is the relationship between:
A) the inputs employed by the firm and the resulting costs of production.
B) the factors of production and the resulting outputs of the production process.
C) the demand for a firm's output and the quantity it is able to produce with available resources.
D) the firm's production costs and the amount of revenue it receives from the sale of its output.
B
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In the above figure, the economy is at point a on the initial supply of loanable funds curve SLF0. What happens if the real interest rate rises?
A) Nothing; the economy would remain at point a. B) There would be a movement to a point such as b on supply of loanable funds curve SLF0. C) The supply of loanable funds curve would shift rightward to a curve such as SLF2. D) The supply of loanable funds curve would shift leftward to a curve such as SLF1.
Which of the following would shift the demand curve for autos to the right?
a. A fall in the price of autos. b. A fall in the price of auto insurance. c. A fall in consumers' incomes. d. A fall in the price of steel.