-According to the Above Table, What Is the Average Product

question 31

Multiple Choice

-According to the above table, what is the average product of labor when three laborers are employed?

• A) 3
• B) 4
• C) 5
• D) 6

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Definitions:

Rate of Return

The percentage of profit or loss on an investment over a specified period, reflecting the efficiency of investing capital.

Compounded Quarterly

The practice of adding interest to the principal sum of a deposit or loan on a quarterly basis, thereby earning interest on interest.

Final Payment

The last payment in a series that completes the payment obligation.

Interest

The fee paid for borrowing money, typically a percentage of the principal, or the earnings from investment.