Assume That the Only Variable Resource Used to Produce Output

question 201

Multiple Choice

Assume that the only variable resource used to produce output is labor. Refer to the provided table. When the firm hires four units of labor, the average product of labor is

• A) 5 units of output.
• B) 7.50 units of output.
• C) 8.50 units of output.
• D) 30 units of output.

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Definitions:

Alveoli

Tiny air sacs in the lungs where the exchange of oxygen and carbon dioxide takes place.

Respiratory Tract

The pathway through which air enters and exits the body, including the nose, throat, and lungs, essential for gas exchange.

Air Pockets

Small areas where air is trapped, often leading to turbulence when encountered by aircraft.

Trachea

The windpipe, a tube that connects the pharynx and larynx to the lungs, allowing for air passage.