Use the figure below to answer the following questions.
Figure 11.2.1
-Refer to Figure 11.2.1 which illustrates Tania's total product curve. Average product of labour reaches its maximum for the ________ worker.
Definitions:
Average Product
It is the output that is produced, on average, by each unit of input in the production process, like labor or machinery.
Production Function
A mathematical relationship that describes how inputs are transformed into outputs in the production process, illustrating the maximum output achievable from a given set of inputs.
Marginal Product
Marginal product is the additional output a firm gains from employing one more unit of input, holding all other inputs constant.
Labor
The human effort, either physical or mental, that is used in the production process to generate goods or services.
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