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The Average Product of Labor is

Llanis

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6 years ago

The Average Product of Labor is

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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Microeconomics

Edition: 6^th

Author: Perloff

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