Author Question: Average product of labor is equal to ________. A) total product multiplied by the quantity of ... (Read 145 times)

FButt · **on:** Jun 29, 2018

Average product of labor is equal to ________.

A) total product multiplied by the quantity of labor employed.
B) the total product produced
C) the quantity of labor employed divided by total product
D) total product divided by the quantity of labor employed

Question 2

Moving along a given budget line

A) prices and real income both decrease.
B) prices fall and real income is constant.
C) real income decreases and prices are constant.
D) prices and real income are constant.