The average product of labor is
A. the percentage change in output divided by the percentage change in labor.
B. the change in output that results from an increase of labor by one unit.
C. the output produced by a worker of average quality.
D. total output divided by total labor.
Answer: D
Economics
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When private benefits are less than social benefits, it means that:
A. positive externalities are present in the market. B. positive externalities are not present in the market. C. negative externalities are not present in the market. D. no externality of any kind is present in the market.
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