Which of the Following Quotes Best Illustrates the Idea of Average

question 114

Multiple Choice

Which of the following quotes best illustrates the idea of average product?

• A)"If I have 10 workers on my assembly line,I can produce 13 tables a day."
• B)"If I add an 11th worker,I can produce 1 extra table a day."
• C)"Each worker produces 2 tables a day."
• D)"I find if I add an extra shift at night,table production only rises by 80 percent because I need more maintenance time on the assembly line."
• E)"If I double workers and double the assembly line,I can make 120 percent more tables."

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Definitions:

Reduce Uncertainty

Strategies or actions taken to minimize the unpredictability or variability in outcomes.

Leasing

A financial arrangement where a lessee pays the lessor for the use of an asset for a specified period of time, without owning the asset.

Straight-Line Depreciation

A method of allocating the cost of a tangible asset over its useful life in equal annual amounts.

Net Advantage

The total benefits received minus the costs incurred from an investment or business decision.