Examlex
Because of the possible legal consequences, many people in a sample of the U.S. population chose not to participate in a survey regarding illegal drug use. What type of problem has occurred?
Average Product
The output per unit of input, such as labor or capital, calculated by dividing total output by the total quantity of the input.
Marginal Product
The additional output produced as a result of using one more unit of a particular input, holding all other inputs constant.
Capital/Labor Ratio
The capital/labor ratio is a measure used in economics to indicate the amount of capital relative to the quantity of labor used in the production process.
Labor Productivity
The measure of the economic output produced per unit of labor input.
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