Average Product of Labor Is Calculated as

question 233

Multiple Choice

Average product of labor is calculated as

• A) (total product) x (total units of labor).
• B) (total product) / (total units of labor).
• C) (total units of labor) / (total product).
• D) (marginal product) / (total product).

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Definitions:

Financing Statement

A document filed to give public notice that a lender has a security interest in a borrower's personal property.

Effective

In force or operational; commonly refers to the date on which a law, regulation, or agreement is applied or becomes operational.

Secured

Pertaining to a loan or obligation that is backed by collateral to reduce the risk of lending.

Security Interest

A legal claim or liens on property as collateral for the payment of a debt or performance of some other obligation.