Concept of Total, Average And Marginal Productivity - SS2 Economics Past Questions and Answers - page 1
What is total productivity?
The amount of output produced per unit of input.
The change in output that results from a change in the level of input.
The total amount of output that is produced by all inputs.
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What is average productivity?
The amount of output produced per unit of input.
The change in output results from a change in the level of input.
The total amount of output that is produced by all inputs.
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What is marginal productivity?
The amount of output produced per unit of input.
The change in output that results from a change in the level of input.
The total amount of output that is produced by all inputs.
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Which productivity concept measures the overall efficiency of production?
Total productivity.
Average productivity.
Marginal productivity.
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Which productivity concept measures the additional output that can be produced by using an additional unit of input?
Total productivity.
Average productivity.
Marginal productivity.
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What is the formula for calculating average productivity?
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Why is marginal productivity important?
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What are the three inputs considered when calculating total productivity?
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