A company uses 200 workers and 50 units of capital to produce 1,000 units of output. Its average labor productivity isGroup of answer choices4.5.20.25.
Question
A company uses 200 workers and 50 units of capital to produce 1,000 units of output. Its average labor productivity is
Group of answer choices
4.5
20
25.
Solution
The average labor productivity of a company is calculated by dividing the total output by the number of workers. In this case, the company produces 1,000 units of output with 200 workers.
Step 1: Identify the total output and the number of workers. Total Output = 1,000 units Number of Workers = 200
Step 2: Use the formula for average labor productivity which is Total Output / Number of Workers.
Step 3: Substitute the given values into the formula. Average Labor Productivity = 1,000 units / 200 workers = 5 units per worker
So, the average labor productivity of the company is 5.
Similar Questions
What is output per labor-hour?Multiple choice question.ProductivityCapital-intensiveLabor-intensiveA factor of production
Productivity is defined by the formula of outputs divided by ______ for a specified period of time.Multiple choice question.laborinputsprocessescapital
The amount of output produced per unit of input used is referred to as ______.productivitymarginal costspecializationdivision of labor.
The total output of a business divided by the number of labor units employed gives the _____ product of labor.Multiple choice question.marginalmedianaverage
Workers: 0, 1, 2, 3, 4, 5, 6, 7 Output: 0, 20, 50, 90, 120, 140, 150, 155 Marginal product: ? Total cost: Average total cost: Marginal cost:
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.