Qs 15: Which one of the following statement regarding Factor of Production is correct? (a) It is the input that a firm uses in the production process. (b) It is the output which is produced in the production process. (c) It is the additional input that is required to achieve the maximum output. (d) It is the ratio of the output to that of the input of the production process.

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Qs 15: Which one of the following statement regarding Factor of Production is correct?

(a) It is the input that a firm uses in the production process.

(b) It is the output which is produced in the production process.

(c) It is the additional input that is required to achieve the maximum output.

(d) It is the ratio of the output to that of the input of the production process.

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