Solve and Reduce All Answers to Lowest Terms: 3/4 Yards

question 3

Short Answer

Solve and reduce all answers to lowest terms: 3/4 yards + 1/4 yards + 1/2 yards + 3/4 yards + 1/2 yards =

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Definitions:

Total Product

The total quantity of output that a firm produces with a given amount of fixed and variable inputs during a specified period.

Total Product

The total quantity of output that a firm produces, usually within a given time period.

Marginal Product

The additional output produced as a result of using one extra unit of a particular input.

Average Product

Average Product is the output produced, on average, by each unit of a variable factor of production, such as labor, calculated by dividing total product by the number of variable input units used in production.