Label Each of the Three Graphs Below X, Y and Z

question 7

Essay

Label each of the three graphs below X, Y and Z as either the marginal product, average product or total product of labor and explain the relationship between each of them.

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Definitions:

Americans

are citizens of the United States of America or individuals closely associated with the country.

Bad Debts

Accounts receivable that a company does not expect to collect because customers are unable to pay their debts.

Credit Sales

Sales made by a business where the payment is received after the sale has been made, typically recorded as accounts receivable.

Adjustment

Entries made in preparing financial statements to allocate expenses or revenues to the appropriate accounting period.