resources. 2. A table or mathematical equation showing the maximum amount of output that can be produced from any specified set of inputs, given the existing technology. 3. Production of the maximum level of output that can be obtained from a given combination of inputs. 4. Production of a given amount of output at the lowest possible total cost. 5. An input for which the level of usage cannot readily be changed. 6. An input for which the level of usage may be changed quite readily. 7. A fixed input that need not be paid when output is zero. 8. That period of time in which the level of usage of one or more inputs is fixed