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The formula for the average product of labor (or capital) is simply output, Q, divided by the number of workers (or units of capital), L (K). Simply, APL = Q/L APK = Q/K
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What is the relationship between average product and average variable cost?
There is an inverse relationship between the two. The formula for showing this is AVC=1/APL. Using this formula you will be able to figure out each one.
Draw a diagram with marginal product and average productExplain the relationship between marginal product and average product?
Marginal product is any input in the production process is the increase in the quantity of output obtained from on additional unit of the input. Average product is the output produced when one more unit of the variable factor is employed The relationship is state as: If labour's marginal product is exceed its average product that means labour's average product will be rising. Labour's average product will be falling. If labour's marginal product is less than its average product. If labour's marginal product is equal its average product and the average product will reach the minimum value at the point.
Why marginal product curve intersect the average product curve at the maximum?
of average product.
Relationship between Tota Product Marginal Product and Average Product?
Average Product = (Total Product) / (Labor) Marginal Product(2) = (Total Product)(2) - (Total Product)(1)
Chemical formula for the product sodium iodide?
Formula: NaI
Is H2O an example of a formula or a product?
no
What is a product launch formula?
A product launch formula is the method in which you introduce a new product to the market for consumers to use and purchase. Successful product launch formulas can result in a many sales and repeat customers.
What product has a secret formula?
krabby patty
What is formula of urine?
The molecular formula for urine is CH4N2O. Urine is the liquid by-product of the body.
Define total product and average product?
Total product is a term used to measure exactly how much product is made or sold. Average product is used to compare the making or selling of a product over time.
What is the average price of a moleskin product?
The average price of a moleskin product ranges from two to ten dollars, depending on the product. Most appear to be used for foot care and are lower in that average.
What is relationship between average product and marginal product?
Marginal product is equal to average product when average product is maximumMarginal product determines the behaviour of the Average product. AP rises, reaches maximum and thereafter falls.For all sections that the MP is greater than the AP, the AP rises and MP is below AP, the AP decreases.Marginal product reaches maximum at a lower level of employment than does the AP
