Economists use the notation Q = f(L,K) to describe Select one: A. the arithmetic relationship between the outputs that a firm uses and the inputs that it produces. B. the level of output (Q) required to fully employ labour (L) and capital (K). C. the technological relationship between the inputs that a firm uses and the outputs that it produces. • D. the financial relationship between the inputs that a firm uses and the outputs that it produces. E. the flow of labour (L) and capital (K) services that are available when output is (Q).
Economists use the notation Q = f(L,K) to describe Select one: A. the arithmetic relationship between the outputs that a firm uses and the inputs that it produces. B. the level of output (Q) required to fully employ labour (L) and capital (K). C. the technological relationship between the inputs that a firm uses and the outputs that it produces. • D. the financial relationship between the inputs that a firm uses and the outputs that it produces. E. the flow of labour (L) and capital (K) services that are available when output is (Q).
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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1.

Transcribed Image Text:Economists use the notation Q = f(L,K) to
describe
Select one:
O A. the arithmetic relationship between the
outputs that a firm uses and the inputs
that it produces.
B. the level of output (Q) required to fully
employ labour (L) and capital (K).
O C. the technological relationship between
the inputs that a firm uses and the
outputs that it produces.
D. the financial relationship between
the inputs that a firm uses and the
outputs that it produces.
E. the flow of labour (L) and capital (K)
services that are available when output
is (Q).
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