Average product is the:Multiple choice question.additional output produced as a result of utilizing one more unit of a fixed resource.amount of output produced per unit of a resource employed.total output produced as a result of utilizing one more unit of a fixed resource.amount of a resource employed per unit of output.

Average revenue is the:Multiple choice question.amount of revenue per unit of a product sold.total revenue resulting from utilizing one more unit of a resource.additional revenue resulting from utilizing one more unit of a resource.amount of revenue per unit of input.

Marginal product is the:Multiple choice question.additional output produced as a result of utilizing one more unit of a fixed resource.additional output produced as a result of utilizing one more unit of a variable resource.total output produced as a result of utilizing one more unit of a variable resource.total output produced as a result of utilizing one more unit of a fixed resource.

The extra revenue received by a firm from selling the output obtained from an extra unit of labour is called:Group of answer choicesthe average product of labourthe marginal revenue product of labourthe marginal product of labourdiminishing marginal product

Total fixed cost divided by the amount of output produced is equal to:Multiple choice question.average fixed cost.average variable cost.average total cost.marginal cost.

If 10 workers can produce 1,500 units of output and 11 workers can produce 1,600 units of output, then the average product of 11 workers is:Group of answer choices1,600 units.145.5 units.136.4 units.100 units.