Question

Total product is the total​ _____ of a good produced in a given period.

Marginal product is the change in​ _____ product that results from a​ one-unit increase in the​ _____.

Average product is the total product divided by the​ _____.

A.​quantity; total; average​ product; price
B.​price; average; total​ product; total cost
C.quantity; total; quantity of labor​ employed; quantity of a factor of production
D.cost; average; marginal​ cost; average cost

Answer 1

The correct answer is C

C.quantity; total; quantity of labor​ employed; quantity of a factor of production

Step-by-step explanation:

Total product is the total volume of output resulting from the employment of all factors of production.

Average product is the output per unit of the variable factor.

Marginal product is the change in total output resulting from a unit change in the output of variable factor