Total Real Output Can Be Determined by

question 155

Multiple Choice

Total real output can be determined by

• A) multiplying the input of labour (measured in worker-hours)by labour productivity (measured by real output per worker per hour).
• B) multiplying the output of labour (measured in dollars)by labour productivity (measured by real output per worker per hour).
• C) dividing the output of labour (measured in dollars)by labour productivity (measured by real output per worker per hour).
• D) dividing the input of labour (measured in worker-hours)by labour productivity (measured by real output per worker per hour).
• E) adding the input of labour (measured in worker-hours)to labour productivity (measured by real output per worker per hour).

Understand the concept of fixed and variable inputs in the production process.

Analyze the impact of varying input costs on production costs.

Calculate the average cost per unit of production.

Understand the effects of input proportions on cost efficiency in production.

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