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Total Product Is

Question 54

Multiple Choice

Total product is


A) the maximum output that a given quantity of labour can produce.
B) the increase in output that results from a one- unit increase in the quantity of labour employed with all other inputs remaining the same.
C) the maximum amount of output produced by a given quantity of labour divided by the given quantity of labour employed.
D) the maximum amount of amount of output produced by a given quantity of labour divided by price of the output.

Correct Answer:

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