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

question 115

Multiple Choice

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

• A) 3
• B) 5.2
• C) 5.75
• D) 6

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Definitions:

Unlimited Wants

The economic concept that humans have endless desires or wishes for goods and services, exceeding the finite resources available.

Limited Means

A situation or condition of having restricted financial resources or capabilities.

Capital Equipment

Long-lasting tools, machinery, or infrastructure used in the production of goods and services.

Fertile Land

Soil or land that is rich in nutrients, making it highly productive for agriculture.