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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.

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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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