Total Product is
A) the change in total product resulting from an extra unit of labor, holding other factors constant.
B) the ratio of output to the number of workers used to produce that output.
C) the amount of output that can be produced by a given amount of labor.
D) equal to the marginal product of labor when the average product is increasing.

Question

Quizplus · Accepted Answer

Total Product is the amount of output that can be produced by a given amount of labor. A) is referring to Marginal Product of labor, B) is referring to Labor Productivity, and D) is a specific condition where Total Product is equal to Marginal Product.

Total Product Is