When Labor Usage Is at 12 Units, Output Is 36

question 82

Multiple Choice

When labor usage is at 12 units, output is 36 units. From this we may infer that:

• A) the marginal product of labor is 3.
• B) the total product of labor is 1/3.
• C) the average product of labor is 3.
• D) none of the above

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Definitions:

Return on Investment

A financial metric used to measure the likelihood of gaining a return from an investment. It is the ratio of net profit to cost of investment.

Situation Analysis

The process of evaluating the current status of a company or project to identify strengths, weaknesses, opportunities, and threats (SWOT).

Stewardship Considerations

Involves responsible planning and management of resources, ensuring they are used ethically and sustainably.

Ongoing Relationship

A continuous interaction or connection between individuals or entities that evolves over time.