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Total Product Is

Question 29

Multiple Choice

Total product is


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

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