In the Following Table,the Average Product of Labor at L

question 16

Multiple Choice

In the following table,the average product of labor at L = 6 is:

• A) 8.
• B) 4.
• C) 6.
• D) 12.
• E) 3.

---

Definitions:

Product

An item or service created through a process and offered to a market to satisfy a want or need.

Joint Venture

A joint venture is a strategic alliance where two or more parties, usually businesses, form a partnership to share markets, intellectual property, assets, knowledge, and profits.

Contractual Arrangement

An agreement between two or more parties that creates enforceable obligations and rights for each party, often documented legally.

Foreign Firm

A company that is based, incorporated, or originates in a country different from the market it operates in or sells its products to.