Determine the average product of the 4th unit of capital<...
Determine the average product of the 4th unit of capital
53
86
212
213
Correct answer is A
Average product is found by dividing total product by the quantity of the variable input.
The AP of the 4th unit of capital = 212 / 4 = 53
Similar Questions
The shape of the average cost (AC) shows that as production increases ...
What accounts for the ‘U-shaped’ of the short run average cost (AC) curve? ...
A bank note is said to be a legal tender because it is ...
The optimum level of output of the firm is ...
The following are advantages of standard deviation EXCEPT that it ...
For the improvement of the welfare of a people, a high production level is not enough because ...
Disposable income in national income accounting is an income which ...
When the demand for a commodity is inelastic, total revenue will fall if ...
The precautionary motive for holding money is to enable the holder to ...