Example Calculation: Average Product of Labor with 800 Farmers
In a scenario with a fixed quantity of land of uniform quality, consider a workforce of 800 farmers who work the same number of hours. If they collectively produce a total of 504,000 kg of grain, the average product of their labor can be calculated. By dividing the total output by the number of farmers, the average product is found to be 630 kg of grain per farmer (504,000 kg / 800 farmers).
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Example Calculation: Average Product of Labor with 800 Farmers
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