Average Product Measures

question 99

Multiple Choice

Average product measures:

• A)the number of output produced per input,on average.
• B)the additional output created from an additional unit of input.
• C)the marginal product averaged across all inputs.
• D)All of these are true.

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Definitions:

Capitalist Societies

Economic and social systems where trade, industry, and the means of production are largely or entirely privately owned and operated for profit.

Cultural Superstructure

A concept in Marxist theory describing the cultural, ideological, and institutional structures built upon the economic base of society.

Marx

A philosopher, economist, and social scientist known for his critical analysis of capitalism and his theories concerning class struggle, historical materialism, and the labor theory of value.

Dialectics

A method of argument or inquiry that involves a dialogue between contrasting ideas or theories to arrive at a higher truth or synthesis.