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_________is defined as the output per unit of variable input.
Question

_________is defined as the output per unit of variable input.

A.

Total product

B.

Minimum product

C.

Average product

D.

Marginal product

Correct option is C

The correct answer is: (C) Average product

Average product is defined as the output per unit of variable input. It is calculated by dividing the total product (total output) by the quantity of the variable input used. Mathematically:

Average Product (AP)=Total Product (TP)Units of Variable Input\text{Average Product (AP)} = \frac{\text{Total Product (TP)}}{\text{Units of Variable Input}}Average Produc(AP)=Totalproduct)TP)UnitsofVariableinput (AP)= \frac{Total product)TP)}{Units of Variable input}​

For example, if a worker produces 50 units of output and there are 5 workers (labor as the variable input), the average product would be:AP=505AP = \frac{50}{5} ​​=10units per worker.

Information booster:

Other Options

Explanation

A. Total product

Total product refers to the total quantity of output produced by a given amount of input. It is not measured per unit of input.

B. Minimum product

This is not a standard economic term. There is no concept called "minimum product" in production theory.

D. Marginal product

Marginal product refers to the additional output produced by using one more unit of the variable input. It is not an average measure.

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