6 Views

Question : ____ is defined as the output per unit of variable input.

Option 1: Marginal product

Option 2: Production function

Option 3: Total product

Option 4: Average product


Team Careers360 16th Jan, 2024
Answer (1)
Team Careers360 21st Jan, 2024

Correct Answer: Average product


Solution : The correct answer is Average product .

It denotes the average amount of production generated by each additional unit of a variable input, such as labour or capital, while other inputs remain constant. For instance, if a business generates 100 units of output from ten units of variable input, the variable input's average product is ten units per unit of input. This indicates that each variable input unit yields an average of ten units of output.

SSC CGL Complete Guide

Candidates can download this ebook to know all about SSC CGL.

Download EBook

Know More About

Related Questions

TOEFL ® Registrations 2024
Apply
Accepted by more than 11,000 universities in over 150 countries worldwide
Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books