If 11 Workers Can Produce a Total of 54 Units

question 242

Multiple Choice

If 11 workers can produce a total of 54 units of a product and a 12th worker has a marginal product of 6 units, then the average product of 12 workers is

• A)60 units.
• B)54 units.
• C)48 units.
• D)5 units.

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Definitions:

Balance of Payments

A record of all economic transactions between the residents of a country and the rest of the world in a particular period.

Goods and Services

Refers to the physical products and intangible services that are produced and consumed by individuals or businesses.

Goods Imports

The act of bringing products or services into one country from another for the purpose of trade or sale.

Current Account Entry

Transactions that reflect the difference between a country's savings and its investment in a given period, including trade balance and foreign income.