This topic contains a solution. Click here to go to the answer

Author Question: Total Product is A) the change in total product resulting from an extra unit of labor, holding ... (Read 89 times)

tuffie

  • Hero Member
  • *****
  • Posts: 534
Total Product is
 
  A) the change in total product resulting from an extra unit of labor, holding other factors constant.
  B) the ratio of output to the number of workers used to produce that output.
  C) the amount of output that can be produced by a given amount of labor.
  D) equal to the marginal product of labor when the average product is increasing.

Question 2

The Average Product of Labor is
 
  A) the change in total product resulting from an extra unit of labor, holding other factors constant.
  B) the ratio of output to the number of workers used to produce that output.
  C) the amount of output that can be produced by a given amount of labor.
  D) equal to the marginal product of labor when the average product is increasing.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

strudel15

  • Sr. Member
  • ****
  • Posts: 324
Answer to Question 1

C

Answer to Question 2

B




tuffie

  • Member
  • Posts: 534
Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it


smrtceo

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Excellent

 

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

For a complete list of videos, visit our video library