If 11 Workers Can Produce a Total of 54 Units

question 242

Multiple Choice

If 11 workers can produce a total of 54 units of a product and a 12th worker has a marginal product of 6 units, then the average product of 12 workers is

• A)60 units.
• B)54 units.
• C)48 units.
• D)5 units.

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Definitions:

Economic Variables

Quantitative measures that represent aspects of the economy or a company and can change over time, such as GDP, inflation rate, and unemployment rate.

Policy Makers

Individuals or groups responsible for making decisions that affect the economy, society, or governance.

Normative Economics

A branch of economics that expresses value judgments about economic fairness or what the economy ought to be like.

Positive Economics

An approach to economics that seeks to understand and explain the economy as it is, based on factual observations without making normative judgments.