Total Product, Marginal Product, Average Product

question 310

Multiple Choice

Total Product, Marginal Product, Average Product

-In the above table, the marginal product of the second worker is

• A) 1.
• B) 2.
• C) 3.
• D) 4.

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Definitions:

Simple Interest

Interest computed solely on the initial sum or on the outstanding part of that initial sum.

Discount

A reduction applied to the regular price of goods or services, usually to incentivize purchase.

GICs

Guaranteed Investment Certificates, which are Canadian investment products that offer a guaranteed rate of return over a fixed period.

Simple Interest

Interest calculated only on the principal amount, without compounding.