In 1897 a Large Ferris Wheel Was Built in Vienna;

question 14

Short Answer

In 1897 a large Ferris wheel was built in Vienna; it is still in operation today. Known as The Great Wheel , it has a circumference of 618 feet. If one trip around the circumference of the wheel took 15 minutes, find the average speed of a rider in feet per minute. __________ feet \ minute

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Definitions:

Average Product

The ratio of total product to the amount of input used, determined by dividing the overall output by the input quantity.

Average Product

The average amount of output produced per unit of a specific input, like labor or capital, over a certain period.

Diminishing Returns

The principle stating that if one factor of production is increased while others remain constant, the overall returns will initially increase but will eventually decrease after a certain point.