-The above (incomplete) table provides information about the relationships between labor and various product measures. The average product of the fourth unit of labor
A) exceeds the marginal product of the fourth unit of labor.
B) is less than the marginal product of the fourth unit of labor.
C) is equal to the marginal product of the fourth unit of labor.
D) is equal to 4.0.

Question

-The above (incomplete) table provides information about the relationships between labor and various product measures. The average product of the fourth unit of labor
A) exceeds the marginal product of the fourth unit of labor. 
B) is less than the marginal product of the fourth unit of labor. 
C) is equal to the marginal product of the fourth unit of labor. 
D) is equal to 4.0.

Quizplus · Accepted Answer

The average product is calculated by dividing the total product by the number of units of labor. The marginal product is the additional output from one more unit of labor. Typically, the average product exceeds the marginal product when the marginal product is decreasing.

-The Above (Incomplete) Table Provides Information About the Relationships Between