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Author Question: Total Product is A) the change in total product resulting from an extra unit of labor, holding ... (Read 91 times)

tuffie

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on: Jul 1, 2018
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.


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strudel15

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

B


tuffie

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Reply 2 on: Jul 1, 2018
Excellent

FergA

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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