Use the following table to answer question
-What is the average cost per unit for producing 3 units?
Definitions:
Plant Size
Plant size refers to the capacity or physical dimensions of a facility where goods are produced, impacting the volume of production and potential economies of scale.
Diminishing Marginal Returns
A principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase and may decrease.
Number of Workers
The total count of individuals engaged in the labor force of an organization, sector, or economy at any given time.
Units of Output
The quantity of product or service produced by a company, industry, or economic sector.
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