The ratio of total product to the total quantity of the input being used is _____.
A)equal to marginal product
B)constant as the levels of the input vary
C)equal to average product
D)equal to the marginal rate of technical substitution

Question

Quizplus · Accepted Answer

The ratio of total product to the total quantity of the input being used is referred to as the average product. It is obtained by dividing the total product by the total quantity of input used. The average product is a measure of the productivity of a specific input, and it indicates how efficiently the input is being used.

The Ratio of Total Product to the Total Quantity of the Input