Economics (AS & A Level) · Feb / March 2024 · Paper 32 · Question 4
9708Types of cost, revenue and profit, short-run and long-run production
The statement and the table provide information about a production function. The production function represents the amount of ......1...... obtainable from each combination of ......2...... and can be used to give information about ......3...... . Which words correctly complete gaps 1, 2 and 3?
- Ademand | labour | returns to scale
- Bdemand | labour | normal profit
- Coutput | inputs | returns to scale
- Doutput | inputs | supernormal profit
As printed in the paper
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Correct answer: C. output | inputs | returns to scale
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