Asked by
Angel Michalski
on Nov 04, 2024
Verified
When a firm maximizes total product in the short run, average product is
A) zero.
B) negative.
C) positive.
D) Any of the above can be correct.
Total Product
The overall quantity of output that a firm produces, usually in a given period of time, measured in terms of units.
Average Product
The output per unit of input, calculated by dividing the total product by the quantity of input.
- Measure and understand the mean output and peripheral productivity of labor.
Verified Answer
MJ
Learning Objectives
- Measure and understand the mean output and peripheral productivity of labor.