Average Product of Labor Is Equal to

question 113

Multiple Choice

Average product of labor is equal to

• A) total product multiplied by the quantity of labor employed.
• B) the total product produced.
• C) the quantity of labor employed divided by total product.
• D) total product divided by the quantity of labor employed.

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Definitions:

Obligation to Pay

A legal or financial commitment to make payments to another party or entity.

Paying Cash

The act of settling a transaction or paying an expense with physical currency or cash equivalents at the time of purchase.

Check Form

A paper instrument that instructs a financial institution to pay a certain amount of money from a person's account to the designated recipient.

Purchase

The act of buying goods or services, resulting in a financial transaction.