Average Product Is Calculated by Dividing Total Product by the

question 294

Multiple Choice

Average product is calculated by dividing total product by the

• A) amount of variable and fixed inputs employed.
• B) quantity of the variable input.
• C) quantity of the fixed input.
• D) production function.

---

Definitions:

International Rules

Regulations, standards, or guidelines that govern relations or activities between different countries, such as trade, maritime law, or diplomatic relations.

Customs Duties

Customs duties are taxes imposed on the importation and sometimes the exportation of goods, designed to regulate international trade and raise government revenue.

Customs Tariff Act

Legislation that sets the tariffs and duties imposed on goods that are imported or exported.

Customs Act

Legislation that governs the importation and exportation of goods in and out of a country.