2 question

Question 11 (10 points) A production function specifies : Oa The maximum output that can be produced with a given quantity of Inputs. Ob Only an indirect association between inputs and technical parameters. OC The minimum output that can be produced with a given quantity of inputs. O d Only the effect of long-run changes in fixed inputs. Question 12 (10 points Marginal costs that cannot be attributed to individual units of commodities but are incurred by societyas a whole are: internal costs of production Social martynal costs Costs of Intermediateinput Sunk costs