How to find average product of labor?
Understand the Problem
The question is asking how to calculate the average product of labor, which involves understanding the relationship between total output produced and the amount of labor used. The average product of labor is calculated by dividing the total output by the number of labor units employed.
Answer
Total output divided by the number of workers.
The final answer is the total output divided by the number of workers.
Answer for screen readers
The final answer is the total output divided by the number of workers.
More Information
The average product of labor indicates the productivity of the workforce and is useful for assessing efficiency and making decisions about scaling production.
Tips
Common mistakes include using incorrect units for output and labor, and mixing up average product with marginal product. Always confirm the total output and number of workers to ensure accurate calculations.
Sources
- Intro to Average and Marginal Product - thoughtco.com
- Average Product in Economics | Definition, Equation & Formula - study.com
- How to Calculate Average Product Given Input of Labor & Total Output - smallbusiness.chron.com
