Given the Information in Exhibit 7­2, What Is the Average

question 60

Multiple Choice

Given the information in Exhibit 7­2, what is the average product of thethird unit of labor?

• A)45 pairs of shoes
• B)25 pairs of shoes
• C)15 pairs of shoes
• D)$45
• E)$25

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Definitions:

Manufacturing Industries

Sectors of the economy that transform raw materials into finished products through mechanical, physical, or chemical processes.

Same Industry

Refers to businesses and organizations that produce or provide similar goods and services.

Geographic Region

A specific area or section of space characterized by a particular set of features, whether natural, man-made, or social.

Dumping

Selling a product abroad for less than charged in the home market or for less than the cost of production