If the Units Produced by a Factory Increased by 10

question 51

Multiple Choice

If the units produced by a factory increased by 10% and the labor hours decreased by 10%,then the labor productivity __________.

• A)decreased by 20%
• B)increased by 20%
• C)increased by 21%
• D)increased by 22%

Explain the impact of technological advancements on production costs.

Determine the marginal and average product of inputs in production.

Calculate and interpret the total, average, and marginal costs in various business conditions.

Understand the concept of average total, variable, and fixed costs.

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