Examlex

Solved

Matching​ -Dialyzer

question 60

Multiple Choice

Matching​
-dialyzer


Definitions:

Variable Input

An input in the production process that varies with the level of output, such as labor or raw materials.

Marginal Product

The increase in output resulting from a one-unit increase in the use of a particular input, while holding other inputs constant.

Average Product

The output produced, on average, by each unit of a variable input, such as labor or capital, in the production process.

Total Product

Total product refers to the total quantity of output that a firm produces over a given period, typically in relation to varying levels of input.

Related Questions