Use the following to answer questions 11-12:
Figure 6.1
-(Figure 6.1) The average product at L = 2 and L = 8 respectively are:
A) 2 and 1.13.
B) 0.5 and 0.89.
C) 8 and 72.
D) 1.5 and 0.5.

Question

Use the following to answer questions 11-12:
Figure 6.1 
-(Figure 6.1) The average product at L = 2 and L = 8 respectively are:
A) 2 and 1.13. 
B) 0.5 and 0.89. 
C) 8 and 72. 
D) 1.5 and 0.5.

Quizplus · Accepted Answer

The average product is calculated by dividing the total output by the number of labor units (L). The given values for L = 2 and L = 8 result in average products of 2 and 1.13, respectively.

Use the Following to Answer Questions 11-12