Asked by
Vjollca Gjidia
on Nov 04, 2024Verified
Assume the total product of two workers is 80 and the total product of three workers is 90. The average product of three workers is ________, and the marginal product of the third worker is ________.
A) 10; 45
B) 30; 10
C) 10; 13.33
D) 160; 270
Average Product
The output per unit of input, calculated by dividing total product by the quantity of input used in its production.
Marginal Product
The additional output generated by employing one more unit of a specific factor of production.
Total Product
The total quantity of output produced by a firm during a given period of time.
- Utilize the notions of average and marginal product for the analysis of production quantities.
Verified Answer
UK
Learning Objectives
- Utilize the notions of average and marginal product for the analysis of production quantities.