-Refer to Figure 7

question 18

Multiple Choice

-Refer to Figure 7.1.What is the average product of 20 workers?

• A) 1.1 units of output
• B) 22 units of output
• C) 2 units of output
• D) 8 units of output

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Definitions:

Mature Consumers

Individuals, typically aged 55 and older, with distinct consumer habits and preferences shaped by their life experiences.

Homogeneous Market

A market composed of consumers or buyers with similar needs, interests, and characteristics, making it easier to target with specific products or marketing strategies.

Enthusiastic Customers

Individuals who are highly satisfied and passionate about a brand or product, often promoting it voluntarily.

New Economy

An economy based on digital technologies, emphasizing information, knowledge, and innovation.