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Elis [28]
3 years ago
15

A production function: shows the output that is most highly valued by consumers. shows the most desired production method for a

given level of output. shows the output that is produced using different combinations of inputs combined with existing technology. shows the output that is produced using different combinations of technology combined with existing inputs.
Business
1 answer:
BigorU [14]3 years ago
4 0

Answer:

Shows the output that is produced using different combinations of inputs combined with existing technology

Explanation:

The production function is an <u>expression that links the different amount of inptuts used in the production process and the final output obtained with each combination of inputs, with a given tehcnology.</u>

As an example, if a economy produces only popcorn, a production function would be an expression that shows hou much popcorn that economy can produce with different combinations of corn and sugar, with a given technology.

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The answer and procedures of the exercise are attached in the following archives.

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3 years ago
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antoniya [11.8K]

Answer:

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Explanation:

Price elasticity of demand measures the porcentage of the change in the demand when there is a change in the price. If the change in porcentage of the demand is less than the pocentage of change in the price we talk about inelastic demand. An increase in the price of inelastic goods will result in bigger revenues, as the porcentage in the drop of sales is less than the porcentage   of increase in the price.

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3 years ago
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Television ads usually portray the elderly as being vibrant, active, healthy, energetic, etc.

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3 years ago
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Answer:

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