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Average Product (AP) of a Factor:
The productivity of a factor is often seen in terms of its average contribution. Although not very important in the theoretical discussions, where analytical insight is tried to be drawn from marginal productivities, average productivity finds a platform in empirical evaluations. Deriving it from the total product is relatively easy. It is the output per unit of a factor.
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Devil's Advocate Explicit role undertaken by a group member who actively questions and challenges the group's ideas, procedure, and decisions. Such active questioning helps de
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Lynne’s income is $2, 000 and she is risk averse. The probability of someone slipping on her stairs is 1 8 . If this happens, she will be sued for $1, 000 and will have to pay that
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Why is it considered well to bring all BOP's to zero? If BOP of any country is zero, it reflects that the present account of that country has sufficient balance to meet the n
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