The average product of labor is equal to
A) the additional labor required to produce one more unit of output.
B) marginal product when average product is at a minimum.
C) the additional output produced by hiring one more unit of labor.
D) the slope of a ray drawn from the origin to a point on the total product curve.

Question

Quizplus · Accepted Answer

The average product of labor is calculated by dividing the total output by the number of units of labor used, which can be visually represented as the slope of a ray drawn from the origin to a specific point on the total product curve. This slope indicates the average output per unit of labor.

The Average Product of Labor Is Equal to