In the Table Above,what Is the Average Product of Four

question 5

Multiple Choice

$\begin{array}{c}\begin{array}{c}\text {Units of}\\\text {Labor}\\\hline1 \\2 \\3 \\4 \\5 \\\end{array}\begin{array}{c}\text { Total }\\\text { Product }\\\hline ---\\---\\300\\---\\290\\\end{array}\begin{array}{c}\text {Average}\\\text {Product}\\\hline---\\125\\---\\---\\---\\\end{array}\begin{array}{c}\text {Marginal}\\ \text {Product}\\\hline100\\---\\---\\20\\---\\\end{array}\end{array}$


In the table above,what is the average product of four units of labor?

• A)20
• B)60
• C)80
• D)100
• E)350

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Definitions:

Real GDP

Real GDP, or real gross domestic product, measures a country's total economic output, adjusted for price changes or inflation.

Unemployment Rate

The portion of the labor group that is unoccupied with work but is actively seeking employment.

Personal Tax Rate

The percentage of an individual's income that is paid to the government as tax.

Medium of Exchange

A medium of exchange is an intermediary instrument or system used to facilitate the sale, purchase, or trade of goods between parties.