In production , the formula total product/number of men employed is used to calculate

Assessment: WAEC SSCE - Economics - 2000 (Objective) Subject: Economics

Question 1 Report

In production , the formula total product/number of men employed is used to calculate
Answer Details
The formula total product/number of men employed is used to calculate the average product. Average product is the average output produced by each unit of input, in this case, the average output produced by each worker. It is calculated by dividing the total product (the total output produced) by the number of workers employed. Average product is an important measure of productivity and efficiency, and is often used by firms to assess the performance of their workers and production processes.
Read lesson note on The Theory Of Production (JAMB)
Read lesson note on Theory Of Production (WAEC)
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