Asked in Business & FinanceSchool SubjectsEconomics
Business & Finance
School Subjects
Economics
Define average product?
Answer

Wiki User
March 29, 2014 6:24PM
Average product defined as- dividing total production of inputted variables by number of inputted variables. For example- average product of 3,5,7,9 is-(3+5+7+9)/4= 6.
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Why is it difficult to define quality?

Quality is not an attribute of the object or product, it is a
perception that relates a person observing or using a product to
that product. Hence, quality is not absolute, but relative. In the
lifecycle of a product, quality might be different along the
stages. A new product could be a 'quality' product if it is chock
full of bells and whistles, while later in life dependability and
reliability are perhaps a better description of what is 'quality'.
This makes quality hard to define: Subjective and evolving.