A characteristic of the linear production function is that

Assessment: JAMB UTME - Economics - 2007 Subject: Economics

Question 1 Report

A characteristic of the linear production function is that
Answer Details
The linear production function is a type of production function that has a constant rate of increase in output as inputs increase. This means that for every additional unit of input, the output increases by the same fixed amount. In other words, output and all inputs change by the same percentage. Therefore, the percentage change in output is always equal to the percentage change in inputs, making it a linear relationship. So, the correct answer is: "output and all inputs change by the same percentage."
Read lesson note on The Theory Of Production (JAMB)
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