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Assume That the Only Variable Resource Used to Produce Output

Question 197

Multiple Choice

Assume that the only variable resource used to produce output is labor. Assume that the only variable resource used to produce output is labor. Refer to the provided table. When the firm hires four units of labor, the average product of labor is A) 5 units of output. B) 7.50 units of output. C) 8.50 units of output. D) 30 units of output. Refer to the provided table. When the firm hires four units of labor, the average product of labor is


A) 5 units of output.
B) 7.50 units of output.
C) 8.50 units of output.
D) 30 units of output.

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