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Queen Rhain De leon
on Nov 04, 2024

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Assume the total product of two workers is 110 and the total product of three workers is 120. The three worker's average product is ________ while the third worker's marginal product is ________.

A) 40; 10
B) 40; 20
C) 50; 10
D) 120; 110

Average Product

The amount of output produced on average by each unit of a variable input, such as labor, in the production process.

Marginal Product

is the additional output resulting from a one-unit increase in the quantity of one input while holding other inputs constant, illustrating the concept of diminishing returns.

  • Determine the average and marginal productivity of labor from specified data.
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Kendra BrewsterNov 10, 2024
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