Match each production term to its meaning
Exercise and reference answers
- Matching pairs
- Left
- Production fn
- Right
- The link between inputs and max output
- Left
- Total product
- Right
- All the output a given labour input yields
- Left
- Average product
- Right
- Output per unit of the variable input
- Instructions
- Tap a term on the left, then tap what it means.
Explanation
_Source: syllabus Introductory Microeconomics Ch3 Production and Costs, 3.1 PRODUCTION FUNCTION_