Examlex
Which of the following statements is most accurate?
Average Product
The output produced, on average, by each unit of a variable input, such as labor.
Labor
Human effort, whether physical or mental, exerted in the production of goods and services.
Car Detailing
A service performed on a vehicle to restore its cleanliness and appearance, both inside and out, often including paint care, interior detailing, and wheel cleaning.
Marginal Product
The increase in output that results from a one-unit increase in the quantity of a single input, holding the quantities of all other inputs fixed.
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