Examlex
In modeling a waiting line,we can consider several characteristics.Which of the following is NOT such a characteristic?
Marginal Product
It is the increase in output that results from a one-unit increase in the input, keeping all other inputs constant.
Average Product
The output per unit of a particular input, such as labor or capital, calculated by dividing total product by the quantity of input.
Average Product
The output produced per unit of input used, typically calculated by dividing total product by the quantity of input.
Marginal Product
The additional output gained by employing one more unit of a particular input, keeping other inputs constant.
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