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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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