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Average Product of Labor

[Summary]AmosWEB is Economics: Encyclonomic WEB*pedia AVERAGE PRODUCT AND MARGINAL PRODUCT: A mathematical connection between average product and marginal product stating that the change in the average product depends on a comparison between the average produ

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AmosWEB is Economics: Encyclonomic WEB*pedia

AVERAGE PRODUCT AND MARGINAL PRODUCT:

A mathematical connection between average product and marginal product stating that the change in the average product depends on a comparison between the average product and marginal product. If marginal product is less than average product, then average product declines. If marginal product is greater than average product, then average product rises. If marginal product is equal to average product, then average product does not change.

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