Multiple Choice Questions on shows the functional relationship between output and cost of production ........ for Common University Entrance Test (CUET) Preparation

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Multiple Choice Questions

shows the functional relationship between output and cost of production ........

Economics (CUET) Theory of Production and Cost
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    ___________shows the functional relationship between output and cost of production.

     

    Production function
     

    Incorrect Answer

    Supply function

    Incorrect Answer

    Cost function
     

    Correct Answer

    Demand function

    Incorrect Answer
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    Explanation:

    Option (3) is correct.
    Explanation: The functional relationship between output and cost of production is given by cost function.
    C = F(Q)
    Because cost is dependent on output. As output changes, cost also changes.

     

    By: Parvesh Mehta
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