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To answer, refer to the following: At Huffy's ... bicycle factory, 1,700 employees turn out 15,000 bicycles a day. Five years ago, it required 2,200
To answer, refer to the following:
"At Huffy's ... bicycle factory, 1,700 employees turn out 15,000 bicycles a day. Five years ago, it required 2,200 workers to make 10,000 bikes daily."
Today, at the Huffy bicycle factory,
Multiple Choice
- the total product is 15,000 bicycles per day.
- the marginal product of labor is 10 additional bicycles per additional employee.
- the average product of labor is 8.8 bicycles per employees.
- both "the total product is 15,000 bicycles per day" and "the marginal product of labor is 10 additional bicycles per additional employee".
- both "the total product is 15,000 bicycles per day" and "the average product of labor is 8.8 bicycles per employees".
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