Practice - Average Product
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Practice Questions
Test your understanding with targeted questions
What is the formula for Average Product?
💡 Hint: AP stands for Average Product, think how it relates to total output.
If a company produces 60 units of output with 6 inputs, what is the Average Product?
💡 Hint: Use the formula: AP = TP divided by number of inputs.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What is Average Product?
💡 Hint: Think about how we measure efficiency in production.
True or False: Average Product can decrease when Marginal Product is greater than Average Product.
💡 Hint: Recall the relationship between MP and AP.
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Challenge Problems
Push your limits with advanced challenges
A factory produces 500 units of goods with 20 workers. Suddenly, they add 5 more workers and output grows to 600 units. Calculate the Average Product pre and post staffing change.
💡 Hint: Apply AP formula before and after change.
Explain the implications for a firm that sees a rising Average Product and declining Marginal Product. What could this indicate about efficiency?
💡 Hint: Think about balance between efficiency and diminishing returns.
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Reference links
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