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Total output divided by total units of input =
a) marginal product.
b) average product.
c) marginal cost.
d) total product.

Ask by Lang Schneider. in the United States
Mar 24,2025

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The correct answer is b) average product.

Solución

To determine the correct answer, let’s analyze the options provided:
  1. Marginal Product: This refers to the additional output generated by adding one more unit of input. It is not calculated as total output divided by total units of input.
  2. Average Product: This is defined as the total output produced divided by the total units of input used. This matches the description given in the problem.
  3. Marginal Cost: This is the cost of producing one additional unit of output, which is not related to the total output divided by total units of input.
  4. Total Product: This refers to the total output produced by all units of input, but it is not a ratio.
Based on this analysis, the correct answer is:
b) average product.

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Extra Insights

The ratio of total output to total units of input gives us the average product. This concept helps businesses understand how well they’re utilizing their resources to generate output. Just think of it as measuring the efficiency of each input in producing goods or services, much like a coach assessing the overall performance of players on a team!
In real-world scenarios, calculating the average product can be super useful for businesses. For instance, if a factory knows its average product per worker, it can decide whether to hire more employees or invest in better machinery to boost productivity. It’s all about making informed decisions to optimize operations and maximize profits!

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