are based on the short-run production function in the graph at right.

-The slope of line segment OD can be interpreted as the:
A)total product of labor at Y
B)average product of labor at Y
C)value of labor's marginal product at Y
D)greatest possible marginal product of labor

Question

are based on the short-run production function in the graph at right.

-The slope of line segment OD can be interpreted as the:
A)total product of labor at Y 
B)average product of labor at Y 
C)value of labor's marginal product at Y 
D)greatest possible marginal product of labor

Quizplus · Accepted Answer

The slope of line segment OD represents the average product of labor at point Y, as it is calculated by dividing the total output by the quantity of labor used.

Are Based on the Short-Run Production Function in the Graph