Average product is equal to
A) marginal product + total product.
B) total product ÷ marginal product.
C) total product ÷ quantity of labor.
D) total product × quantity of labor.
E) marginal product × quantity of labor.

Question

Quizplus · Accepted Answer

Average product is calculated by dividing total product by the quantity of labor. Therefore, the correct option is C. Option A is incorrect because it is the sum of two different concepts, marginal product and total product. Option B is incorrect because it is the division of two different concepts, total product and marginal product. Option D is incorrect because it is the multiplication of two different concepts, total product and quantity of labor. Option E is incorrect because it is the multiplication of two different concepts, marginal product and quantity of labor.

Average Product Is Equal to