The Average Product of Labor Is

question 73

Multiple Choice

The average product of labor is

• A)the change in total product resulting from an extra unit of labor,holding other factors constant.
• B)the ratio of output to the number of workers used to produce that output.
• C)the amount of output that can be produced by a given amount of labor.
• D)equal to the marginal product of labor when the average product is increasing.

---

Definitions:

Goods And Services

Represents the output of economic activities that can be offered in the market to satisfy a want or need, including tangible products (goods) and intangible offerings (services).

Minimum Level Of Customization

The least amount of modification or adaptation allowed or required to meet specific needs or preferences, typically in a product or service.

Desktop Videoconferencing Systems

These are software applications and hardware setups that enable video meetings and calls via desktop computers, facilitating remote communication.

Complex Communication

The process of exchanging information that involves multiple layers of meaning, requiring advanced cognitive and emotional understanding.